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Amplats extends talks on planned layoffs

Mar 28 2013 15:30 Sapa, Reuters
Amplats

Amplats (Picture: AFP)

Company Data

Anglo American Plat Ltd [JSE:AMS]

Last traded 345.00
Change -7.25
% Change -0.02
Cumulative volume 265041
Market cap 93.04bn

Last Updated: 31/10/2014 at 04:29. Prices are delayed by 15 minutes. Source: McGregor BFA

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Johannesburg - Anglo Platinum [JSE:AMS], the world's largest platinum producer, said on Thursday it had extended for 30 days its talks with the government about restructuring plans that could see it cut up to 14 000 jobs and mothball two mines. 

The mining giant and the department had been in talks regarding the continuation of a process to handle planned retrenchments for the past 60 days.

Section 189 of the Labour Relations Act sets out the provisions which an employer must comply with during a retrenchment process. Both entities are to hold further consultations with several labour unions.

Anglo's CEO Chris Griffith said although progress was being made, volumes of information and data still needed to be attended to.

"Anglo Platinum will approach the Commission for Conciliation, Mediation, and Arbitration to postpone the continuation of the Section 189 [process] by a further 30 days to enable the bilateral consultation processes to be concluded within this extended period," he said.

"We will continue to engage constructively with all our stakeholders and will communicate progress updates as and when appropriate."

The restructuring plans to restore profits has met fierce resistance from the government and unions.

Amplats said it expected to conclude the matter by the end of April. The company announced earlier this year it intended to retrench 14 000 workers.

 

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amplats  |  job cuts  |  mines
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