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Amplats miners back at work

Feb 20 2013 07:58 Reuters
Amplats

Amplats (Picture: AFP)

Company Data

Anglo American Plat Ltd [JSE:AMS]

Last traded 475.57
Change -6.43
% Change -0.01
Cumulative volume 24896
Market cap 128.25bn

Last Updated: 31/07/2014 at 11:04. Prices are delayed by 15 minutes. Source: McGregor BFA

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Johannesburg - Anglo Platinum [JSE:AMS] confirmed that employees at all of its South African mines were clocking in for work on Wednesday after a one-day walk-out in response to violence at its Siphumelele mine, a spokesperson said.

"All shafts are proceeding underground," said spokesperson Mpumi Sithole.

Workers refused to go underground at its mines in Rustenburg on Tuesday demanding that the company stay out of union affairs.

On Monday nine workers were hurt by rubber bullets and four security officers were hacked by machetes as union rivalry reignited, sparking fears of a repeat of the labour violence that led to the death of more than 50 people at platinum mines in the region last year.

Amplats wants to mothball two mines and sell another, which could lead to 14 000 job losses, as it seeks to restore profitability.

South African platinum producers have been hit by illegal strikes and escalating wages which have put pressure on the margins and offset much of the benefit of higher platinum prices.   

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