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Jobs bloodbath in mining

Sep 20 2012 10:47 Sapa

Company Data

Lonmin plc [JSE:LON]

Last traded 51.26
Change -0.29
% Change -0.01
Cumulative volume 20151
Market cap 29.14bn

Last Updated: 25/04/2014 at 10:00. Prices are delayed by 15 minutes. Source: McGregor BFA

Anglo American Plat Ltd [JSE:AMS]

Last traded 505.20
Change -4.8
% Change -0.01
Cumulative volume 24270
Market cap 136.24bn

Last Updated: 25/04/2014 at 10:11. Prices are delayed by 15 minutes. Source: McGregor BFA

IMPALA PLATINUM HOLDINGS LIMITED [JSE:IMP]

Last traded 120.24
Change -1.69
% Change -0.01
Cumulative volume 90721
Market cap 76.02bn

Last Updated: 25/04/2014 at 10:09. Prices are delayed by 15 minutes. Source: McGregor BFA

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Johannesburg - About 10 000 jobs could be lost in the mining industry, National Union of Mineworkers' (Num) general secretary Frans Baleni said on Thursday.

"We are talking about 10 000 jobs lost," he told media on the sidelines of the Congress of SA Trade Unions' (Cosatu) conference in Midrand.

The industry had already lost 4 800 jobs between February and June, he said.

Lonmin [JSE:LON] planned to close down a shaft operated by Murray and Roberts on contract. This would lead to 1 200 lost jobs. It had also cancelled plans for a new development, costing a potential 3 000 jobs.

Anglo Platinum [JSE:AMS] had issued a section 189 notice in terms of the Labour Relations Act to retrench 2 000 workers.

Impala Platinum Holdings [JSE:IMP] had told the Num some of its shafts were not profitable, which could lead to even more job losses.

"All of these things are happening while we are engaging the industry and DMR (department of mineral resources) to prevent a jobs bloodbath," Baleni said.

This comes as "expectation has been created in the industry" after a deal was reached with Lonmin of wage increases of up to 22%.

Baleni said the Num had been getting calls from members in the coal, platinum and gold mining sectors wanting similar increases.

The Num was worried that the Lonmin deal would lead to copycat demands.


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