Platinum mines not making money: Implats

[DreamKing]

but it doesn't mean i agree with those idiots workers want to haveR 12500 a month.

 

[DJ...]

It's unlikely that only his decisions count. And it's not so likely that if he were paid a 1/3 of what he's paid he'd make worse decisions.

And surely if his company is failing he should be paid a negative salary?

His remuneration is commensurate with his his responsibilities to the company as a whole...

 

[Vrotappel]

Salaries are global now, there's no such a thing as getting more in Dubai than you would in South Africa, if you are a skilled resource. But for mining the situation is even more similar because:
1. both SA and Aussie miners work for same companies in some cases
2. the price of the metal is the same, whether it's mined in a first or third-world country
3. Unions are more organised, and they know what their counterparts in other countries earn

Keep on telling yourself that, the smart money though is staying away.

 

[Messugga]

Keep on telling yourself that, the smart though is staying away.

Yeah, have to agree here, that's simply not true. IT people in the US easily pull over a mill in the major cities, in SA you get nowhere near that in general.

 

[SmartKit]

"Brown, who stepped down as CEO at the end of June last year, remained a director of Impala for a further three months during which he was paid 16.8 million rand ($1.7 million) in salary, benefits and bonuses, the Johannesburg-based company said in its annual report posted on its website. Brown was paid 13.1 million rand during his last full year as CEO."

Nuff said.

It's less than R220 million. What if we split that amongst all tax payers as a rebate?

 

[bgotapen]

It is all a massive problem with BEE, politics and high costs. Mines do not make enough to pay investors back, how are they expected to pay more for their workforce.

A big problem that I am aware of is an incompetent workforce that got placed because of bee, they can not do their jobs even though the mines pay small fortunes training them. So the mines need to hire (Ex workers) contractors to help keep the mines running.

There are mines that lost millions a day because of their incompetent staff, and they have to pay contractors to fix it. The problem if not really paying them but the downtime as they have to wait for them to come (some living as far as 400km away) to come fix electronics etc etc.


The anc is the root cause of most of the problems facing south africa, they pressed the mines into harsh transformation and now the mines are quite literally bleeding money. (fuel costs, taxes, politics and strikes)

The current problems are caused 99% by the anc... It isn't going to change soon unless the drones at the unions actually realize what is really wrong.