Loading...
See More

Num to 'rock the diamond industry'

Jul 22 2011 09:12 Sapa

Company Data

ANGLO AMERICAN PLC [JSE:AGL]

Last traded 0
Change -5,85
% Change 0
Cumulative volume 1128985
Market cap 322.06bn

Last Updated: 28-11-2014 at 04:36. Prices are delayed by 15 minutes. Source: McGregor BFA

Related Articles

Mine workers start strike at De Beers

Coal workers to strike

Num to strike at De Beers

Wage talks to start in diamond sector

Coal workers want 'reasonable' offer

New strike threatens power supply

 
Johannesburg - Mineworkers at De Beers will embark on a strike on Friday that will "rock the diamond industry", the National Union of Mineworkers (NUM) said.

Peter Bailey, NUM's chief negotiator at De Beers, said the strikers would make their presence felt at the mines.

"This is the first strike [at De Beers] in many years, but they have pushed us to the point they never thought we would reach.

"The strike will begin from 6pm this evening (Friday)... We are going to rock the diamond industry with this strike," said Bailey.

Spokesperson for De Beers, Wayne Smerdon, said: "That may be their perception, but we do have contingency plans in place... We are always open to negotiation and trying to find ways to resolve issues."

He said the company was looking into picketing rules, in light of strike violence in other sectors.

"It is [NUM's] right to go on strike, but it is also our right to protect our property and those who aren't on strike."

That this was the first strike in many years was evidence of De Beers' diplomacy with workers, Smerdon said.

NUM served notice of its intention to strike on Wednesday afternoon after talks broke down.

The world's largest diamond producer had offered seven percent with an additional cash payment.

"The very minimum basic salary will be R5 885, which, to put in some context, affects less than 100 employees [out] of 2 818 in De Beers Consolidated Mines," De Beers said on Wednesday.

The diamond producer had initially offered a 5% increase. NUM wanted 15%.

Another point of conflict was the union's demand for an "agency shop agreement" between De Beers and the union.

Under such an agreement, a fee is deducted from non-union members' salaries so that benefits that accrue to them from union negotiations are not free.

De Beers was opposed to this because it saw this as a violation of non-affiliated workers' right to freedom of association.

De Beers said it was confident it could continue to meet demand from diamond trading company sightholders for supply when the strike got underway.
 
Unlisted De Beers is 45% owned by mining firm Anglo American [JSE:AGL].
anglo american  |  num  |  de beers  |  diamonds  |  strikes
NEXT ON FIN24X

Lonmin completes BEE credits

2014-11-26 15:46

 
 
 

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
3 comments
Add your comment
Comment 0 characters remaining
 

Company Snapshot

We're talking about:

Small Business

Retailers of any shape and size can now unlock the power of mobile transacting.
 
 

Africa: Land of Billionaires!

Find out who are the richest of the richest in Africa!

 
 

Men24.com

Jurassic World trailer is epic!
Best bro movies 2014
Every man should be able to do these three things
Goalkeeper saves five penalties with his FACE!

Money Clinic

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