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Amcu threatens strike at Sibanye over job cuts

Johannesburg - The Association of Mineworkers and Construction Union (Amcu) said on Friday it could strike at Sibanye Gold [JSE:SGL] if the firm does not stop its plans to cut more than 500 jobs at its recently acquired platinum mines.

The Competition Tribunal on Thursday approved Sibanye Gold's plan to acquire Anglo American Platinum's labour-intensive and costly Rustenburg mines and Aquarius Platinum.

Sibanye had pushed for some layoffs to be allowed, mostly head office positions, and the company said the Competition Tribunal seemed to accept that. Sibanye officials were not available to comment.

The AMCU president Joseph Mathunjwa told a media briefing that the union will constantly fight retrenchments as sinking metal prices and soaring costs have triggered a fresh wave of layoffs across the South African mining industry.

"We gave Sibanye our position; we're still waiting for their response. They know it clearly that if they are not responding favourably they will get their 48 hour strike notice," Mathunjwa told reporters.

About 250 jobs will be lost at the Rustenburg Platinum mines, while 14 jobs are expected to be shed at Aquarius Platinum mine, said Competition Tribunal spokesperson Chantelle Benjamin in a statement.

Further 260 jobs are expected to be cut should Sibanye combine all its mining operations and head offices with the target companies, causing an overlap of important positions.

Job losses are a thorny issue in South Africa, where the unemployment rate is around 25%.

AMCU's arch rival, the National Union of Mineworkers (NUM), said in February that more than 36 000 jobs could be lost in the embattled industry over the next three months, around 7% of the roughly 500 000-strong labour force.

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