Breaking News
Investing Pro 0
🚨 Our Pro Data Reveals the True Winner of Earnings Season Access Data

South Africa's AMCU union to expand Sibanye-Stillwater strike to platinum operations

Commodities Jan 14, 2019 14:50
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters. South Africa's AMCU union to expand Sibanye-Stillwater strike to platinum operations
 
SSWJ
+1.22%
Add to/Remove from a Portfolio
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 

JOHANNESBURG (Reuters) - South Africa's Association of Mineworkers and Construction Union (AMCU) is planning to strike at Sibanye-Stillwater's (J:SGLJ) local platinum operations, it said on Monday, expanding an earlier stoppage affecting its gold facilities.

Since the union downed tools at Sibanye 's gold operations in mid-November, four employees have been killed during strike-related violence and the firm has said it expected to miss its 2018 bullion output forecast.

AMCU said on Monday that the new strike would begin on Jan. 22 and involve around 12,500 of its members.

Sibanye said it was unable to estimate what impact the expansion of the strike would have on operations at its South African platinum mines. AMCU is the majority union at all of Sibanye's local platinum mines.

"There is a strong chance that there will be an operational impact at Rustenburg," Sibanye-Stillwater spokesman James Wellsted said, referring to one of Sibanye's major mines.

AMCU embarked on the strike at Sibanye's gold operations after wage talks with the company broke down, despite the firm reaching a three-year wage agreement with the National Union of Mineworkers (NUM), Solidarity and UASA.

Sibanye says those three unions make up a majority of employees at its gold operations, allowing it to extend the agreement to other minority unions.

Gold producers in Africa's most industrialised economy have argued that above-inflation wage hikes have added to the cost burden of the bullion industry, which has been hit by depressed prices and labour unrest.

Shares in Sibanye-Stillwater were down 0.37 percent to 10.65 rand by 1342 GMT.

South Africa's AMCU union to expand Sibanye-Stillwater strike to platinum operations
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
or
Sign up with Email