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Intimidation stalls gold talks

Oct 12 2012 14:10 Sapa
Striking Gold Fields mine workers.

Striking Gold Fields mine workers.

Company Data

GOLD FIELDS LIMITED [JSE:GFI]

Last traded 43.51
Change 0.69
% Change 0.02
Cumulative volume 1693481
Market cap 33.70bn

Last Updated: 24/04/2014 at 04:29. Prices are delayed by 15 minutes. Source: McGregor BFA

HARMONY GOLD MINING COMPANY LIMITED [JSE:HAR]

Last traded 34.35
Change 0.35
% Change 0.01
Cumulative volume 929825
Market cap 14.97bn

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

ANGLOGOLD ASHANTI LIMITED [JSE:ANG]

Last traded 190.45
Change 3.75
% Change 0.02
Cumulative volume 810969
Market cap 76.79bn

Last Updated: 24/04/2014 at 04:29. Prices are delayed by 15 minutes. Source: McGregor BFA

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Johannesburg - Intimidation prevented the NUM from communicating with all its members ahead of further wage talks with the Chamber of Mines, the trade union said on Friday.

"We are hoping to reach more of them during the course of the weekend," National Union of Mineworkers spokesperson Lesiba Seshoka said.

The union had received mixed reactions from the few members they had managed to interact with during the illegal and unprotected strikes at several gold mines.

NUM, Solidarity, and Uasa gave feedback on Thursday to the chamber on a pay structure proposal by employers.

Uasa spokesperson Franz Stehring agreed his members were not all content with the tabled offer.

"We are not happy... Uasa members are not completely satisfied, but to bring stabilisation into the system our members have accepted the offer," he said.

Solidarity was unavailable for comment.

The chamber agreed to give the unions an extension to communicate the proposals to workers. They had until Monday to return with a response.

On behalf of AngloGold Ashanti [JSE:ANG], Gold Fields [JSE:GFI], and Harmony Gold Mining Company [JSE:HAR], the chamber had proposed doing away with the lowest wage category to increase the industry's entry-level wage.

A new category would be created for locomotive, loader, winch, and water jet operators to improve their salaries.

Other employees would have their pay adjusted to preserve the integrity of the present job grading framework. An allowance for rock drill operators was also proposed.


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