Why Are 21 Billionaires Moving Their Money ASAP?

One of the biggest stock market events in 25 years is rapidly unfolding... The economist who predicted the 2008 Financial Crisis says it will be: "The Biggest Crash of Our Lifetime." Starting November 19 it could cut the entire tech marketing by HALF.

Why did 87 miners die trapped underground in South Africa as police tried to force their surrender?

GERALD IMRAY
January 16, 2025

CAPE TOWN, South Africa (AP) -- South Africa's president is facing calls to order an inquiry into a police operation that was meant to combat illegal mining but ended up leaving 87 miners to die underground as authorities attempted to force them to surrender during a monthslong standoff.

The tragedy at the abandoned gold mine near the town of Stilfontein began to unfold in August, when police cut off food supplies for a period of time to the miners working illegally in the mine's tunnels.

The tactic was apparently meant to force them out but instead caused dozens to die of starvation or dehydration, according to groups representing the miners.

A court ordered a rescue operation that was launched on Monday and more than 240 survivors were hauled out this week in small groups in a metal cage, some of them badly emaciated after more than five months below the surface. All the survivors were arrested, police said.

Here's how the events unfolded:

Operation 'Close the Hole'

South African authorities have for years struggled to stop groups of miners from going into some of the gold-rich country's 6,000 abandoned or closed mines to search for leftover deposits. According to officials, South Africa lost more than $3 billion in gold to the illicit trade last year.

Police forces launched an operation -- dubbed "Close the Hole" -- in late 2023 to clamp down on illegal mining by surrounding several mines and cutting off supplies that were being sent down by other members of the groups on the surface, so the miners would come out on their own and be arrested.

The Buffelsfontein Gold Mine, the scene of the disaster, became a police target in August but it was only in November that the miners' situation drew the attention of rights groups. Activists warned that hundreds of miners were trapped up to 2.5 kilometers (1.5 miles) underground and desperately needed food, water and other supplies.

A Cabinet minister laughed when she was asked if the authorities would send supplies.

"We are not sending help to criminals," Khumbudzo Ntshavheni said, adding that "criminals are not to be helped. Criminals are to be persecuted."

Starvation as a weapon

Trade unions and rights groups say authorities used starvation as a weapon at Buffelsfontein. A group representing the miners said that not only did police cut off food for a time, they and the mine owners also dismantled a rope and pulley system that was used to get into the mine and send down supplies.

Police have denied any responsibility for the deaths and insisted the miners were not trapped but were able to escape through several shafts in the mine.

More than 1,500 did, police said, but others stayed put out of fear they would be arrested.

But rights groups say hundreds of miners were trapped inside the mine too far away from the shafts they could leave through or too weak to make the dangerous climb out.

Activists are saying authorities are also to blame for the long delay in launching a rescue operation, which only started on Monday after a court ordered the government to rescue the miners.

Who are the miners?

The miners, known as "zama zamas" -- "hustlers" or "chancers" in the Zulu language -- are usually armed and part of criminal syndicates, the government says.

They are often undocumented foreign nationals and authorities said that the vast majority who came out of the Buffelsfontein mine were from Mozambique, Zimbabwe and Lesotho, and were in South Africa illegally.

Police said they seized gold, explosives, firearms and more than $2 million in cash from the miners and have defended their hard-line approach.

Appeals for the president to order an inquiry

South Africa's second biggest political party, which is part of a government coalition, has called on President Cyril Ramaphosa to order an inquiry into what happened at the Buffelsfontein mine.

The investigation should also determine whether police "are prepared to use vengeance and punishment as acceptable ways of fighting illegal mining," the Democratic Alliance party said.

Others have questioned if the extraordinarily harsh action by authorities was because most of the miners at Buffelsfontein were not South Africans, but undocumented migrants.

Ramaphosa has not commented on the disaster.

___

AP Africa news: https://apnews.com/hub/africa

Continue Reading...

Popular

Trump White House Clamps Down on Press Access

White House restricts reporter access to West Wing Room 140; NSC cites sensitive material, echoing Pentagon curbs, raising press concerns.

Tanka Bets Its Memory-Native AI Platform Can Redefine How Startups Collaborate and Scale

Tanka, a U.S.-based AI collaboration platform headquatered in Bay Area, is betting on its home market with a bold premise — that the future of enterprise software will depend not on bigger models or flashier chatbots, but on memory. 

"Tech Prophet" Who Predicted the iPhone Now Predicts... - Ad

George Gilder - who predicted the iPhone 17 years early and gave Reagan the first microchip - is making his boldest call yet. He says an American nanotech "super-convergence" could mint more millionaires than any event in recent memory. He's found 3 stocks set to benefit before November 18's bombshell.

Trump Withdraws Support For 'Wacky' Marjorie Taylor Greene In Sudden, Fiery Split: 'I Can't Take...'

President Donald Trump said he is withdrawing his endorsement of longtime ally Rep. Marjorie Taylor Greene — here's what happened.

Spotify Premium Subscribers Boost Q3 Revenue, Eyes Strong Holiday Quarter

Spotify (NYSE: SPOT) shares rose after reporting better-than-expected Q3 results, with revenue of $4.99B and 17M new MAUs.

Nvidia CEO: E.I. Will Be as Common as Cars Today - Ad

E.I. isn't science fiction anymore. It's already here. And one little-known company is quietly supplying the systems behind it. This stock is still under Wall Street's radar... but not for long. You'll get the name, the ticker, and the full thesis inside.

Bill.Com Scales Payments Footprint With 33 Million Transactions

Bill Holdings, Inc. (BILL) reports Q1 fiscal 2026 results, beating analyst estimates with adjusted EPS of 61c and revenue of $395.74M.

OpenAI and Amazon sign $38B deal for AI computing power

SEATTLE (AP) — OpenAI and Amazon have signed a $38 billion deal that enables the ChatGPT maker to run its artificial intelligence systems on Amazon's cloud computing services.

Forget Amazon's 1997 IPO... This Could Be 287 Times Bigger - Ad

Since Amazon's IPO in 1997, it climbed enough to turn $100 into $250,000. Now, one man says Elon Musk could be gearing up to take his internet satellite giant public... in what Fortune magazine says will be the biggest IPO in history! James Altucher is sharing how ANYONE can get a pre-IPO stake... with as little as $100!

Cathie Wood Goes All-In On Peter Thiel's Crypto Play Bullish With Back-To-Back Million-Dollar Buys

Cathie Wood-led Ark Invest purchased shares in Bullish, a crypto exchange backed by Peter Thiel, through three of its funds. Other key trades were also made, including buying shares in CRISPR and Beam Therapeutics.

Trump Signs Law to Launch Dollar 2.0 - Ad

Trump just signed law S.1582, unleashing the biggest money shift in 100+ years. For the first time since 1913, private firms - not the Fed - can mint a "Dollar 2.0." Treasury says it could drain $6.6T from banks and pay 10X current savings rates. Early investors in minting firms could see 40X returns by 2032.

Ferrari CEO Confirms Electric Car Plans, Raises Full-Year Outlook

Ferrari N.V. stock rose after reporting Q3 results and guidance. Sales grew 7.4% and EPS beat estimates. Net revenues and adjusted EPS outlook raised.

Billie Eilish Asks Zuckerbeg, Other Billionaires To Donate

Billie Eilish urges billionaires to share their wealth for good causes during award acceptance speech. Mark Zuckerberg in attendance.

The Tesla Shock Nobody Sees Coming - Ad

While headlines scream "Tesla is doomed"...Jeff Brown has uncovered a revolutionary AI breakthrough buried inside Tesla's labs. One that is helping AI escape from our computer screens and manifest itself here in the real world all while creating a 25,000% growth market explosion starting as early as January 29.

Japan's Toyota, hurt by President Trump's tariffs, reports a drop in profit

TOKYO (AP) — Toyota reported a 7% year-on-year drop in its profit for April-September on Wednesday, as President Donald Trump’s tariffs slammed Japanese automakers, but it raised its forecast for the full fiscal year.

Jim Cramer: Chipotle Is 'Too Expensive,' Buy This Plane Maker

On "Mad Money," Cramer discusses Henry Schein, Bloom Energy, Tyler Technologies, Boeing and Chipotle Mexican Grill.

Elon's New Device Could Launch Biggest IPO of the Decade - Ad

Elon Musk's new device is being called a "game-changer"-and even the White House is using this tech. Jeff Brown says it could launch Musk's next trillion-dollar company and make early investors rich. You can claim a stake now for as little as $500.

Zohran Mamdani Says No More Thanking Veterans Today, Forgetting Tomorrow — Trump, Obama And Others Express Gratitude For Service

America's top political and tech leaders — including Donald Trump, Barack Obama, Tim Cook, and Sundar Pichai — marked Veterans Day 2025 with tributes honoring the courage and sacrifice of U.S. service members.

Zohran Mamdani Was Crypto Bettors' Overwhelming Favorite For New York City Mayor At 100% Odds — And He Just Won

Zohran Mamdani won the high-stakes New York City mayoral race Tuesday,  a victory widely anticipated by cryptocurrency bettors, who had overwhelmingly backed the Democratic Socialist.

Jensen Huang's Secret Masterplan Revealed - Ad

NVIDIA's revolutionary new invention just solved the #1 chokepoint that's been strangling big AI companies. And Tech legend Jeff Brown - the Silicon Valley insider who called NVIDIA before it skyrocketed more than 30,000%... says a shocking announcement by NVIDIA CEO Jensen Huang could make a lot of early investors rich.

Criminal case against Boeing over deadly 737 Max plane crashes is dismissed by a US judge

A federal judge in Texas has agreed to dismiss a criminal conspiracy charge against Boeing in connection with two that killed 346 people.

Indians who fled a Myanmar cyberscam center are being flown home from Thailand

MAE SOT, Thailand (AP) — is repatriating on Thursday the first batch of hundreds of its nationals who last month fled to Thailand from Myanmar, where most had been working at a .

The Next Biggest Bull Run In Over 50 Years - Ad

Gold has hit all-time highs, breaking $4,000 an ounce - but history shows it could be on the verge of its biggest bull run in over half a century... triggered by a likely major event, eerily similar to what happened in the 1970s. (It's NOT inflation or anything you're likely expecting.) Now, a top analyst says you can capture ALL of the upside without touching a risky miner or a boring exchange-traded fund. He sees extraordinary potential gains long term with very little risk.

Bitcoin's Crash Below $100,000 Isn't The End: Wall Street Vet Says: 'We Have To Get Through This'

For the first time since July, Bitcoin (CRYPTO: BTC) fell below $100,000 on Tuesday as the crypto sell-off saw $1.7 billion in liquidations in 24 hours.

How chummy is too chummy? Epstein emails shine light on relationships between journalists, sources

The released this week shine a light on the delicate relationship between reporters and their sources. And, as can be the case, bright light isn't always flattering.

Another Gold High? Here's the Move Wall Street Is Missing ... - Ad

Gold just surged past $4,200, up 45% in a year - but Sean Brodrick says $6,900 could be next. History shows when gold booms, one hidden play has delivered far bigger gains - 21x, 49x, even 1,386x. The same strategy once handed 26,000% profits. And Sean says it's back on the table now.

Abu Dhabi hosts oil summit as OPEC+ halts production hikes planned for first quarter of 2026

ABU DHABI, United Arab Emirates (AP) — Abu Dhabi hosted a major oil summit Monday, hours after the OPEC+ cartel and its allies said it would halt further production increases planned in the first quarter of 2026 over concerns of too much supply in the market.

Why Are 21 Billionaires Moving Their Money ASAP? - Ad

One of the biggest stock market events in 25 years is rapidly unfolding... The economist who predicted the 2008 Financial Crisis says it will be: "The Biggest Crash of Our Lifetime." Starting November 19 it could cut the entire tech marketing by HALF.

Nvidia Faces Growing Pressure As Amazon, Microsoft Support Curbs On AI Chip Exports To China: Report

Amazon and Microsoft are backing new U.S. legislation that would further restrict Nvidia's AI chip exports to China, creating a rare split in the tech industry as lawmakers weigh tougher controls.

"Tech Prophet" Who Predicted the iPhone Now Predicts... - Ad

George Gilder - who predicted the iPhone 17 years early and gave Reagan the first microchip - is making his boldest call yet. He says an American nanotech "super-convergence" could mint more millionaires than any event in recent memory. He's found 3 stocks set to benefit before November 18's bombshell.

Why Did MediciNova Stock (MNOV) Jump Over 87% In After-Hours Trading?

MediciNova shares soared over 87% in after-hours trading on Thursday following the publication of promising research.

Nvidia CEO: E.I. Will Be as Common as Cars Today - Ad

E.I. isn't science fiction anymore. It's already here. And one little-known company is quietly supplying the systems behind it. This stock is still under Wall Street's radar... but not for long. You'll get the name, the ticker, and the full thesis inside.

StubHub Analyst Warns Of Timing Shifts And Weak Visibility

StubHub shares slid after a key analyst cut long-term growth expectations and flagged rising uncertainty around 2026 momentum.

Forget Amazon's 1997 IPO... This Could Be 287 Times Bigger - Ad

Since Amazon's IPO in 1997, it climbed enough to turn $100 into $250,000. Now, one man says Elon Musk could be gearing up to take his internet satellite giant public... in what Fortune magazine says will be the biggest IPO in history! James Altucher is sharing how ANYONE can get a pre-IPO stake... with as little as $100!

Flying-Taxi Maker Archer Loses Altitude As Investors Question Costly Airport Move

Archer Aviation Inc. (NYSE: ACHR) shares down on Q3 results and plans to acquire Hawthorne Airport for $126 million.

Trending Now

Information, charts or examples are for illustration and educational purposes only and not for individualized investment management This message contains commercial elements, such as advertising. We only send these offers to those who have opted in to our newsletter. Past performance is not indicative of future results. For these reasons we strongly suggest trading in a DEMO/Simulated account. The information provided by us is for educational and informational purposes only. We make no representations or warranties concerning the products, practices or procedures of any company or entity mentioned or recommended and have not determined if the statements and opinions of the advertiser are accurate, correct or truthful. If you use, act upon or make decisions in reliance on information contained or any external source linked within it, you do so at your own peril and agree to hold us, our officers, directors, shareholders, affiliates and agents without fault.

Copyright markethundred.com
Privacy Policy | Terms of Service