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Union concerned by mine closure

Jun 22 2012 08:26 Sapa

Company Data

AQUARIUS PLATINUM LIMITED [JSE:AQP]

Last traded 0
Change -0,25
% Change 0
Cumulative volume 1002555
Market cap 4.32bn

Last Updated: 22-10-2014 at 04:11. Prices are delayed by 15 minutes. Source: McGregor BFA

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Johannesburg - Trade union Solidarity has expressed concern over more job losses in the platinum mining sector following the closure of the Everest mine, near Lydenburg, in Mpumalanga.

"The closure of this mine was announced barely a week after Aquarius Platinum [JSE:AQP] had closed its Marikana shaft in Kroondal," union spokesperson Louis Pretorius said on Thursday.

Everest's closure was not permanent, and was due to operational issues and the low platinum price. If the platinum price rose, the mine would again become financially viable.

Pretorius called on Emgodini, Everest mine's operator, to introduce a social plan to stop 1 500 people from losing their jobs and help workers to apply for other jobs in the mining sector.

The trade union welcomed Mineral Resources Minister Susan Shabangu's announcement that a task team would be established to try and save jobs in the platinum industry. This process should be carried out quickly and transparently, Pretorius said.

 
solidarity  |  aquarius platinum  |  job losses  |  mining
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