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Johannesburg - Royal Bafokeng Platinum said on Tuesday
quarterly production dipped by 1%, hit by a three-day wildcat strike and
sending shares of the junior miner sharply lower.
The company reported production of 621,353 tonnes for the
July-September quarter, down 43,262 tonnes from the previous quarter.
RBPlat’s employees held a three-day wildcat strike in August
demanding monthly salaries of R12 500, resuming work on promises that
grievances unrelated to pay would be looked into.
Some of the workers then embarked on another strike in
September and the mining company dismissed several of them, it said.
The Royal Bafokeng Nation that owns RBPlat has channelled
some of the money it makes from platinum sales into social projects, which has
helped stave off some of the unrest seen by other mining companies in the
country.
At 07:10 GMT, RBPlat’s shares were down nearly 4% at R48.05, compared with a 0.08% rise by the All Share [JSE:J203] index.
