• Healthcare headache

    State healthcare strategies must be more than political posturing, says Mzwandile Jacks.

  • Buzzwords and truths

    Mandi Smallhorne discusses her beef with the terms 'savings' and 'entrepreneurship'.

  • No love lost for SA

    A new biography shows why Elon Musk has little affection for the brutal land where he grew up.

Loading...
See More

NUM threatens De Beers with strike

Jul 04 2013 19:48
Reuters

NUM general secretary Frans Baleni. (Picture: Muntu Vilakazi)

Company Data

ANGLO AMERICAN PLC [JSE:AGL]

Last traded 154
Change 0
% Change 0
Cumulative volume 2587429
Market cap 0

Last Updated: 27-07-2015 at 05:00. Prices are delayed by 15 minutes. Source: McGregor BFA

Related Articles

De Beers, NUM pay talks fail

De Beers sales decrease by 16%

De Beers invests R20bn in new SA mine

Cynthia Carroll chairs De Beers

Anglo seals deal in De Beers takeover

De Beers turns to mechanisation

 
Johannesburg - The National Union of Mineworkers is giving diamond producer De Beers, a unit of Anglo American [JSE:AGL], a 48-hour strike notice after mediation failed to resolve a wage dispute, NUM general secretary Frans Baleni told Reuters on Wednesday.

Baleni did not say exactly when NUM would issue the strike notice and De Beers said in a statement it could also lock out union members.

Labour unrest and wildcat strikes have rocked the platinum and gold sectors periodically over the past 18 months, with the violence rooted in a turf war between NUM, which was once unrivalled, and the upstart Association of Mineworkers and Construction Union (Amcu).

But NUM's dispute with De Beers is following legal channels and so is unlikely to unnerve jittery investors who are more focused on upcoming wage talks in the gold, platinum and coal sectors which are seen as among the toughest ever.

Amcu refused to sign a government-brokered stability pact on Wednesday aimed at defusing tensions in the mining industry ahead of those talks.

In the case of NUM and De Beers, the talks went to mediation after the union dropped its wage hike demand to 13% from 17% while the company stuck to a 6% offer.

De Beers produced 4 million carats of diamonds in South Africa last year, out of the total of 27.9 million carats it produced worldwide.

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

amcu  |  num  |  de beers  |  mining unrest

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
6 comments
Add your comment
Comment 0 characters remaining
 

Company Snapshot

We're Talking About...

Money Clinic

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

Voting Booth

Eskom’s decision not to give its staff bonuses is:

Previous results · Suggest a vote

Loading...