• Inside Labour

    There are silver linings to dark global clouds, says Terry Bell.

  • Labour Wrap

    Terry Bell looks back over perhaps the most turbulent and taxing year in the past 20.

  • Putin and the rouble rout

    Russia is not the West and Putin may well survive unscathed, says Leopold Scholtz.

Loading...
See More

Num threatens gold sector strike

Jul 05 2011 19:00 Sapa

Company Data

HARMONY GOLD MINING COMPANY LIMITED [JSE:HAR]

Last traded 0
Change -0,11
% Change 0
Cumulative volume 392911
Market cap 9.03bn

Last Updated: 19-12-2014 at 01:20. Prices are delayed by 15 minutes. Source: McGregor BFA

ANGLOGOLD ASHANTI LIMITED [JSE:ANG]

Last traded 0
Change -0,23
% Change 0
Cumulative volume 361372
Market cap 40.30bn

Last Updated: 19-12-2014 at 01:16. Prices are delayed by 15 minutes. Source: McGregor BFA

GOLD FIELDS LIMITED [JSE:GFI]

Last traded 0
Change -1,23
% Change 0
Cumulative volume 1159178
Market cap 38.63bn

Last Updated: 19-12-2014 at 01:21. Prices are delayed by 15 minutes. Source: McGregor BFA

Related Articles

Numsa: Seifsa ignoring strikers

Rate hike looms as inflation quickens

Num slates Patel's plan

SA must learn from Chile accident - Num

Num threatens strike at Eskom

 
Johannesburg - Workers in the gold sector are preparing to strike after the Chamber of Mines (COM) refused to budge on salary negotiations, the National Union of Mineworkers (Num) said on Tuesday.

"There has not been progress and clearly progress would not be coming and we have no option to opt for a push," general secretary Frans Baleni said.

"There is no question about not having a strike. The strike is here, feel it."

Num emerged from the gold talks "bruised" by the chamber's inconsistencies and reluctance to budge, he said.

The Num, the United Association of SA (Uasa) and Solidarity were representing unionised employees - working for chamber member companies such as AngloGold Ashanti [ JSE:ANG], Harmony Gold Mining Company [JSE:HAR] and Gold Fields [JSE:GFI] - during the negotiations.

The Num and Uasa hoped to raise the chamber's offer from 4.2% to 14%. Solidarity's members had given their negotiators permission to ask for 12%.

Although inflation was at 4.6%, workers faced hefty electricity and rates increases, food price hikes and the imminent introduction of road tolls.

The chamber recently said production in the gold mining industry had consistently declined and that it faced pressure from high electricity, water and fuel costs.

COM negotiator Elize Strydom said the wage offer was increased from 4% to 5% for the lowest paid employees and 4.5% for the rest.

This was because the gold mining companies were not clear on the unions' position with regards to other costly items still outstanding.

"Any movement that we make will depend on the cost implications of the positions adopted by unions on the outstanding issues," she said.

The Num said the COM was dragging its feet.

Negotiations were expected to continue on Wednesday.

The coal sector is expected to start salary increase negotiations on Thursday.

Coal companies have offered a 4.5% wage increase for the lowest category of employee, and 4.2% for all other employees.

The engineering sector of the National Union of Metalworkers of SA began protests on Monday in pursuit of a 13%  salary increase.

It has been offered 7%.
num  |  anglogold ashanti  |  harmony gold  |  uasa  |  strike action
NEXT ON FIN24X

 

Lastest Articles

Here is how to check your credit score and manage it Read More...
Top tips to save money over the festive period Read More...
These are the top 5 most fuel efficient cars in SA Read More...
What to consider when switching medical aid schemes Read More...
 
 

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.
 

Money Clinic

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