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Implats fires 17 200 for illegal strikes

Feb 02 2012 13:48
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Company Data

IMPALA PLATINUM HOLDINGS LIMITED [JSE:IMP]

Last traded 42
Change -1
% Change -1
Cumulative volume 1827475
Market cap 0

Last Updated: 06-12-2016 at 03:29. Prices are delayed by 15 minutes. Source: McGregor BFA

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Johannesburg - Impala Platinum Holdings [JSE:IMP] announced on Thursday that it had dismissed a further estimated 13 000 mineworkers who participated in an illegal work stoppage at its Rustenburg operations.

This brings to around 17 200 the number of striking workers who have been dismissed by the group for failing to return to work by the deadline on Wednesday.

A process of rehiring for those employees who wished to reapply for their positions would be undertaken in due course, Implats said.

The strike began on January 20 when around 5 000 rock drill operators downed tools, apparently over wage grievances. In an apparent show of solidarity, they were joined on strike on Monday by the majority of workers at the mine.

The mine employs about 18 000 workers.

According to Implats, the mine is losing around 3 000 ounces of platinum per day in production.

At 13:13, Implat's shares were trading at R170.80 per share on the JSE, down R4.26 or 2.43% on Wednesday's closing price.

 
impala platinum holdings  |  miners

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