Strike at Impala Platinum mine continues

[dlk001]

Now that AMCU seemed to have "won", the vicious cycle starts.

South Africa's Impala Platinum said on Monday workers remained on a wildcat strike over wages at its Marula mine. Around 2 000 workers affiliated with the National Union of Mineworkers (NUM) downed tools at the mine on Friday, demanding higher wages.

"The work stoppage is still continuing today," Implats spokesperson Johan Theron said.

Implats, the world's second largest producer of platinum, and rivals Anglo American Platinum and Lonmin are still reeling from a five-month strike in South Africa that ended in late June. That stoppage was led by NUM's arch rival the Association of Mineworkers and Construction Union (AMCU).

The Marula operation of Implats was not hit by that strike as its NUM-affiliated workforce signed a wage deal last year. But Theron said on Friday that it seemed the Marula miners now wanted the same wage deal that AMCU obtained for its members at other Implats' mines.

In the engineering and steel sectors, over 200 000 workers associated with the National Union of Metalworkers of South Africa downed tools in a separate dispute last week, forcing General Motors to suspend production at its main South African plant.

http://www.miningweekly.com/article/implats-says-marula-mine-wildcat-strike-continues-2014-07-07

 

[ToxicBunny]

Disciplinary hearings, and fire them...

Simple. Enough is enough.

 

[dlk001]

Sibanye says it can raise $1bn from Chinese for platinum foray

“We are looking at all platinum assets including what Anglo Platinum may sell," Froneman said, reiterating that he wanted to do a deal this year. He would not be drawn on who else besides Amplats was flagging platinum assets.

Sibanye's management team has a reputation for squeezing profit out of mines nearing the end of their lives and it could potentially fund the purchase by tapping cheap Chinese sources of finance given its connection to investors from the country.

Chinese investors open up avenues to cheaper rates of finance than South African companies can normally get, for example through the Chinese Development Bank, but Froneman said he had plenty of options.

Asked if he could raise, say, $1-billion for a platinum deal, he said he could do so "at the drop of a hat".

http://www.miningweekly.com/article/sibanye-says-can-raise-1bn-for-platinum-foray-2014-07-07