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Northam Platinum jobs under threat

Apr 09 2013 12:53 I-Net Bridge

Company Data

NORTHAM PLATINUM LIMITED [JSE:NHM]

Last traded 42.78
Change 0.07
% Change 0.00
Cumulative volume 93903
Market cap 17.01bn

Last Updated: 02/09/2014 at 04:24. Prices are delayed by 15 minutes. Source: McGregor BFA

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Johannesburg - Northam Platinum [JSE:NHM] said on Tuesday striking rock drill operators at its Zondereinde mine face possible dismissal after failing to resume their duties despite an ultimatum issued on April 8.

The “illegal” strike action relates to demands for bonus increases of about 38%.

Production at the mine has been suspended since April 2‚ leading to a loss of 165kg (5 300 ounces) of metal in concentrate to date while revenue losses amounted to R62.7m.

Northam said the protracted interruption in drilling operations has a detrimental effect on underground working conditions, which could pose a safety risk and will deteriorate further if normal operations are not resumed expeditiously.

Northam, which is one of the country's smaller platinum producers, managed to escape last year's violent labour unrest unscathed.

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northam platinum  |  mining  |  platinum
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