Loading...
See More

AngloGold resumes ops as workers return

Oct 26 2012 09:52 Reuters
AngloGold Ashanti

AngloGold Ashanti mineworkers gather on a hill at the Mponeng mine in the North West. (Sapa)

Company Data

Anglo American Plat Ltd [JSE:AMS]

Last traded 374.15
Change -11.65
% Change -0.03
Cumulative volume 16110
Market cap 100.90bn

Last Updated: 23/09/2014 at 09:50. Prices are delayed by 15 minutes. Source: McGregor BFA

ANGLOGOLD ASHANTI LIMITED [JSE:ANG]

Last traded 141.94
Change -1.47
% Change -0.01
Cumulative volume 103228
Market cap 57.28bn

Last Updated: 23/09/2014 at 09:50. Prices are delayed by 15 minutes. Source: McGregor BFA

Related Articles

NUM makes pay deal breakthrough

AngloGold sacks 12 000 defiant miners

Chamber set for gold sector talks

Strike at Anglo mines end

AngloGold holds its ground

AngloGold dismissal procedure begins

 

Johannesburg - AngloGold Ashanti [JSE:ANG] said on Friday workers at its West Wits operations had returned to work, bringing the curtain down on the worst industrial unrest in the gold sector since apartheid.

After threats of mass firings and a wage deal agreed between the industry and National Union of Mineworkers (NUM), the only mine not up and running is one of Gold Fields’ three operations, where sacked workers are appealing their dismissal.

“It appears that the strike is over. Workers have proceeded underground at two of the three mines affected and it appears that the same is happening at the third,” AngloGold spokesperson Alan Fine said of the West Wits operations.

Workers at AngloGold’s Vaal River complex, which was also hit by an illegal strike, returned to work earlier this week.

After three weeks of talks, NUM and the gold industry, which employs around 157 000 people, announced an agreement on Thursday on wage hikes of between 1.5 and 10.8% for different categories of workers.

Resolution of the gold sector strike is likely to bring relief to the ANC and President Jacob Zuma, who remains favourite to win re-election as head of the ruling party at an internal election in December.

However, large parts of the platinum sector remain idle, with no end in sight to a six-week strike at Anglo Platinum [JSE:AMS] (Amplats), the world’s top producer of the metal.

Some 20 500 workers at Amplats’ Union and Amandelbult operations are still holding out for higher wages, and the company has also sacked 12 000 wildcat strikers at its Rustenburg mines northwest of Johannesburg.

In all, 100 000 downed tools since August in often violent strikes that triggered ratings downgrades and a slight reduction in this year’s economic growth forecast from Finance Minister Pravin Gordhan.

 
num  |  anglogold ashanti  |  mining unrest
NEXT ON FIN24X

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
1 comment
Add your comment
Comment 0 characters remaining
 

Company Snapshot

We're talking about:

Small Business

New forms of digital technology are changing the very ways in which entrepreneurs run their businesses.
 

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...
Loading...