• Dangerous games

    Employers' body Neasa is playing a potentially dangerous game, says Terry Bell.

  • Rational thinking

    All players should first consider the net result of their actions, says Leopold Scholtz.

  • Telkom's property poser

    BEE may be hindering Telkom's plans to offload redundant real estate, says Gugu Lourie.

Data provided by iNet BFA
Loading...
See More

Jobs bloodbath in mining

Sep 20 2012 10:47 Sapa

Company Data

Lonmin plc [JSE:LON]

Last traded 41.60
Change -0.91
% Change -0.02
Cumulative volume 741672
Market cap 23.65bn

Last Updated: 31/07/2014 at 04:27. Prices are delayed by 15 minutes. Source: McGregor BFA

Anglo American Plat Ltd [JSE:AMS]

Last traded 472.00
Change -10
% Change -0.02
Cumulative volume 141801
Market cap 127.29bn

Last Updated: 31/07/2014 at 04:27. Prices are delayed by 15 minutes. Source: McGregor BFA

IMPALA PLATINUM HOLDINGS LIMITED [JSE:IMP]

Last traded 106.18
Change -3.32
% Change -0.03
Cumulative volume 940837
Market cap 67.13bn

Last Updated: 31/07/2014 at 04:27. Prices are delayed by 15 minutes. Source: McGregor BFA

Related Articles

Excited Lonmin workers return to work

Amplats: Safe to return to work

Close ranks, Patel tells Cosatu

Timeline of unrest in SA's mines

Lonmin deal not lasting solution, MPs told

Marikana sets 'dangerous precedent'

 

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.


*Follow Fin24 on Twitter, Facebook, Google+ and Pinterest.

 
mining unrest  |  mining
NEXT ON FIN24X

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
35 comments
Add your comment
Comment 0 characters remaining
 

Company Snapshot

We're talking about:

Small Business

A cash flow crunch often occurs in small businesses trying to balance cash coming in with cash going out. Watch this video to help you improve.
 
 

No need to keep up with the Joneses

Fin24 users provide their own personal tips on how to save money instead of trying to keep up with the Joneses.

 
 

Start saving...

Where can you stash your cash?
Time the key for retirement saving
Dummy's guide to saving
Save money with affordable account

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...
Loading...