In partnership with
  • Busting Uber myths

    The ehailing firm is constantly trying, succeeding - and sometimes failing, says Ian Mann.

  • Trapped in a democracy

    The very people elected to bring benefits to all are undermining SA, says Solly Moeng.

  • Marikana spectre

    Five years after the bloody massacre calls for justice are growing louder, says Terry Bell.


We will not negotiate pay - Gold Fields

Sep 19 2012 12:08
Striking Gold Fields mine workers.

Striking Gold Fields mine workers.

Company Data


Last traded 57
Change 3
% Change 5
Cumulative volume 4558239
Market cap 0

Last Updated: 01/01/0001 at 12:00. Prices are delayed by 15 minutes. Source: McGregor BFA

Related Articles

Police teargas Amplats protesters

Jubilant miners say yes to pay deal

Gold Fields won't 'entertain' demands

Lonmin shares jump 9% on pay deal

Rand boosted by Lonmin wage deal

Lonmin deal pressures other mining firms

Johannesburg - Gold Fields [JSE:GFI] said on Wednesday that it would not and could not negotiate the salary demands of striking workers at its KDC west operations, near Carletonville, on the West Rand.

"We are not going to negotiate salary, and we cannot," said spokesperson Sven Lunsche.

"The gold mining industry, unlike the platinum industry, negotiates in a collective bargaining forum. All gold mining companies negotiate jointly with the trade unions."

He said the companies and the unions were in the midst of the latest agreement, a two-year wage and salary accord by the industry and the unions, led by the National Union of Mineworkers (Num).

"For one member to unilaterally raise new issues is not done. We cannot suddenly, unilaterally negotiate separate salaries with our KDC workers."

The accords had worked well for the industry and the unions for almost the last two decades, he said.

At KDC west, a strike by 15 000 employees continued.

"The strike is still continuing and our engagement efforts also continue at this time," said Lunsche.

Gold Fields chief executive Nick Holland said in a newspaper report on Wednesday that Gold Fields was losing 1 400 ounces a day because of the strike, and that this represented 15% of the group's production.

The company's other operations could sustain it, Business Day reported.

"We could go on for quite some time. We are a very strong company financially," Holland said.

He said KDC consisted of mature operations, and with the company having made US$161m (about R1.3bn) in cash flow over the last quarter, for assets that had been in production for 40 to 50 years, this represented an adequate return.

The company obtained a Labour Court interdict declaring the strike unprotected last week. This means legal protective processes related to an industrial dispute were not followed.

* Follow Fin24 on TwitterFacebookGoogle+ and Pinterest

gold fields  |  mining unrest



Read Fin24’s Comments Policy 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
Comments have been closed for this article.

Company Snapshot

We're Talking About...

Savings Month

It's never too late to start saving. Visit our special issue and add your voice.

Money Clinic

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

Voting Booth

The proposal to nationalise SARB will

Previous results · Suggest a vote