Loading...
See More

Harmony Gold warns of retrenchments

Jan 15 2013 09:14 Sapa


Company Data

HARMONY GOLD MINING COMPANY LIMITED [JSE:HAR]

Last traded 18.18
Change -0.42
% Change -0.02
Cumulative volume 2756243
Market cap 7.92bn

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

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

Related Articles

Controversy over closure of Harmony mine

Harmony may shutdown troubled mine

Harmony to brief on troubled mine

Harmony delays reopening of Kusasalethu

Harmony delays mine operations

Harmony miners denied access to hostels

 

Johannesburg - Harmony Gold's Kusasalethu mine was in a dire position as a result of unprotected labour action last year, according to a report on Tuesday. 

Its workers have been given until March 7 to resolve their complaints or face retrenchment, reported Business Day newspaper. 

Harmony Gold Mining Company [JSE:HAR] CEO Graham Briggs has warned in an open letter that roleplayers had 60 days to save the mine. 

The letter said murder, violence, intimidation and damage to mine property prompted the decision to suspend operations at the mine near Carletonville. 

He told Business Day that no company could operate in such an environment. 

"We can't continue like this. Yes, it is as stark as that," said Briggs. 

A meeting between unions and mine management was scheduled to happen on Thursday. 

"The tables have turned. It is us, the company, which has demands on the table now, not the unions," said Briggs. 

"Our demands are that we respect the law, that we are peaceful and respect the Mine Health and Safety Act." 

Unprotected labour action at the mine in October and December caused huge production losses. 

On Monday another mining company, Anglo Platinum [JSE:AMS], warned investors it may have plunged into a heavy loss last year, as a result of labour unrest. 

In a profit warning - filed with the Johannesburg Stock Exchange - Amplats said that 2012 earnings would probably show a loss of 491 to 628 cents per share, down from a profit of 1 365 cents per share in 2011, reported Agence France-Presse.

 

Follow Fin24 on Twitter, Facebook, Google+ and Pinterest.

harmony gold mining company  |  mining
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
3 comments
Add your comment
Comment 0 characters remaining
 

Company Snapshot

We're talking about:

Small Business

Retailers of any shape and size can now unlock the power of mobile transacting.
 

Money Clinic

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