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Implats caves in on pay demands

Sep 27 2012 16:05 Reuters
A man flashes the victory sign after striking mine

A man flashes the victory sign after striking miners secured a 22% pay hike from Lonmin platinum mine in Marikana. (AFP)

Company Data

IMPALA PLATINUM HOLDINGS LIMITED [JSE:IMP]

Last traded 120.40
Change -3
% Change -0.02
Cumulative volume 919468
Market cap 76.12bn

Last Updated: 23/04/2014 at 04:26. Prices are delayed by 15 minutes. Source: McGregor BFA

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Johannesburg - World No 2 platinum producer Impala Platinum [JSE:IMP] said on Thursday it was giving workers a “pay adjustment” and details would follow, against the backdrop of a wave of illegal strikes sweeping South Africa’s mining sector.

“Yes we have, that’s correct,” Implats spokesperson Bob Gilmour told Reuters when asked if a pay adjustment had been made.

He said he could not provide details because the company “was in a process of doing that”.

A union organiser at Implats told Reuters the offer was for across-the-board increases and that workers seemed happy with the offer.

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implats  |  mining unrest
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