South African unions will stage a one- day strike in four provinces this week, possibly cutting production at mines owned by Anglo Platinum Ltd. and Impala Platinum Ltd., the two largest producers of the metal.

The Congress of South African Trade Unions, the biggest labor federation, called the July 23 strike in the Eastern Cape, Gauteng, Limpopo and North West provinces to protest against rising energy and food prices.

Regulators last month allowed state-owned Eskom Holdings Ltd. to raise electricity prices by 27.5 percent to help fund a $44 billion expansion program, a decision the unions say will fuel poverty and unemployment. One-day strikes were staged in five other provinces earlier this month, and a national strike is planned for Aug. 6.

``We believe the disruption and inconvenience caused by this action is minimal compared with that caused by the electricity crisis,'' said Cosatu spokesman Patrick Craven. ``It's necessary to take to the streets to get these issues addressed. If people stay at home and grumble, nothing will happen.''

The labor action may also affect gold mines owned by Harmony Gold Mining Co. and Gold Fields Ltd., coal mines owned by Exxaro Resources Ltd. and vehicle manufacturing plants operated by Volkswagen AG and Daimler AG.

In other corporate news, De Beers, the world's largest diamond company will release first-half earnings on July 23. The closely held Johannesburg-based company is 45 percent owned by Anglo American Plc.

Kumba Earnings

Anglo American Plc's Kumba Iron Ore Ltd., Africa's biggest producer of the steelmaking raw material, is due to release first- half profit on July 24. Net income was between 2.66 billion rand ($347 million) and 2.97 billion rand, compared with 1.58 billion rand a year earlier, the Johannesburg-based company said in a July 9 statement.

On the same day, the Pretoria-based Crop Estimates Committee releases its latest 2008 grain harvest forecast. On June 26, the committee estimated the country would have a corn harvest of 11.6 million metric tons.

South African President Thabo Mbeki will meet with European Union leaders in Bordeaux, France, on July 25, a summit that aims at strengthening economic and political ties. The talks will also seek to smooth over differences over how to handle a political crisis in Zimbabwe. South Africa has been pushing its northern neighbor to agree to a unity government, while the EU has called for sanctions against President Robert Mugabe.

Last week, South Africa's benchmark government bonds gained, with the yield on the 13.5 percent note due September 2015 falling 68 basis points, or 0.68 percentage point, to 9.89 percent. Yields fall when bond prices rise.

The rand advanced 1.4 percent against the dollar to 7.5486.

The benchmark FTSE/JSE Africa All Share Index fell 0.5 percent to 27,610.09. Financial stocks surged after a fall in retail sales reduced the chance of further interest rate increases. Platinum and iron ore miners slumped on concern over rising costs.

Investec Plc rose 21 percent during the week while Kumba fell 19 percent and Impala Platinum Holdings Ltd. declined 18 percent.

The following is a list of important events in Southern Africa next week:

Event                                              Date
Hulamin Ltd. release interim earnings             July 22
Labor unions strike over power prices             July 23
De Beers releases interim earnings                July 23
Release of grain stockpile                        July 23
Kumba Iron Ore Ltd. releases interim earnings     July 24
Release of latest grain harvest estimate          July 24
South Africa/ European Union Summit               July 25