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Implats mulling over workers' demands

Sep 11 2012 13:31 Sapa

Company Data

IMPALA PLATINUM HOLDINGS LIMITED [JSE:IMP]

Last traded 82.23
Change 0.93
% Change 0.01
Cumulative volume 784879
Market cap 51.99bn

Last Updated: 24/10/2014 at 04:28. Prices are delayed by 15 minutes. Source: McGregor BFA

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Johannesburg - Mine management would consider the demands of a group of workers who want a second pay hike in six months, Impala Platinum Holdings [JSE:IMP] said on Tuesday.

"Our overriding imperative in this process is to ensure peace, order and stability. We believe that current tensions are an issue for the entire industry," chief executive Terence Goodlace said in a statement.

The company met the Association of Mineworkers and Construction Union-aligned Interim Workers Committee (IWC) on Monday to discuss its demands.

At the end of April, the company introduced a wage increase which formed part of the settlement following a strike at the mine, which ended at the beginning of March.

The increase was meant to come into effect in June, but was brought forward as a goodwill gesture.

"...The IWC has now demanded that the company implement the same increase again, for the second year of the 2011/12 wage agreement."

This meant that the workers wanted a second pay rise in six months.

Recent tensions in the industry had placed profit margins under severe pressure, which had implications for everyone involved.

"We are therefore actively engaging all stakeholders at the highest level, as a sustainable solution can only be delivered through the collaborative efforts of all parties, at all levels," Goodlace said.

The company offered to conduct a wage review to ensure that the IWC's concerns were considered and discussed in detail.


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