Anglo seeks buyer for Amplats' NWest mine

Anglo seeks buyer for Amplats' NWest mine

2014-04-14 16:15

Johannesburg - Anglo American's Rustenburg operations are not in a good financial position, the company said on Monday.

"The Rustenburg operations are those that are in the most marginal financial position in the platinum group, we cannot rule out the need for further restructuring to ensure the longer-term sustainability of those operations," said Anglo American [JSE:AGL] spokesperson Mpumi Sithole.

The company is reportedly seeking a buyer for its Anglo American Platinum (Amplats) [JSE:AMS] mine in the North West.

Chief executive officer Mark Cutifani indicated that the Rustenburg operations were no longer the company's core asset, according to Business Day on Monday.

The platinum belt has been crippled by a three-month long strike by members of the Association of Mineworkers and Construction Union (Amcu).

The Amcu members at Lonmin [JSE:LON], Impala [JSE:IMP] and Amplats operations in Rustenburg, North West and Northam [JSE:NHM] in Limpopo went on a strike on January 23 demanding a minimum monthly salary of R12 500.

They have rejected the 9% salary increase the companies have tabled.

The companies also rejected the unions' revised demand that the R12 500 should be phased in over a period of four years.

  • Julien Moodley - 2014-04-14 16:30

    Sell the Mine to Government,then we can all sit back and have a Grand Big Joke

  • Melck - 2014-04-14 16:53

    Maybe the amcu would like to buy it seen that they know so much aout running a mine.

  • Joseph Sebopela - 2014-04-14 16:57

    Sell to Amcu,we want to c tat Amcu will pay us 12,5.

  • Mashai Joannes - 2014-04-14 17:05

    Good time for the government to take the mine free of charge and let this imperialist company take a ticket back to england

      winston.wiggill - 2014-04-14 17:19

      Wow, how short sighted. These people are going to lose jobs and their families are going to struggle due to disinvestment due to the unresolved conflict in the Platinum belt

      Robert Clark - 2014-04-14 17:34

      Fantastic idea. Then they can show all the capitalists how a mine should be operated. If they can manage ESKOM, SABC, SAA, etc, why can't they also manage a mine?

      Darrell MacLennan - 2014-04-14 21:08

      Show me one state-run mine that is operational?

      Lauren MacLeod - 2014-04-15 02:25

      Silly man, look what's happened to mines taken over by the sons of the elite - equipment dismantled and sold off, nothing paid to the workers. Empty promises by leaders who know nothing about running and maintaining anything.

      Revelgen - 2014-04-15 09:21

      Mashai - were you born stupid, or did you learn to become that way? Look at the facts man. Go and see for yourself what happened at Aurora, sold to Zuma's offspring, his lawyer etc. The assets were stripped faster than you can say Inkandla, and all jobs lost. Fact. Can the ANC run ONE thing properly except SARS (and that only so the ANC fatcats can live well). Neither the ANC nor AMCU have a freaking clue how to run a mine. It would become a free-for-all shambles overnight, with massive unemployment. Why, why do people have to really suffer before they WISE UP?

  • George Slade - 2014-04-14 17:36

    I think the EFF should Buy this & show us all how a Mine will Work under their Model !!!

  • Kearabetswe Bebetswe Letlhatlhe - 2014-04-14 17:37

    whether this is a bluff or not, its bound to get the government take action. Companies big as Anglo dont play around with money unlike our selfish president!

  • Jon Low - 2014-04-14 18:22

    Anglo can't even give this mine away now -- if the government, or the union, made a peppercorn offer, they'd get it. Nationalisation will cost the taxpayers next to nothing at the point of purchase. And then it will be the taxpayer footing the R12500/month bill for the miners.

  • Fannie Mashilo - 2014-04-14 18:31

    The Chinese will the first to grab this once in a life time opportunity like the currently do in Australia.

      Revelgen - 2014-04-15 09:23

      Yep, and THEN watch the workers - the few left who are not Chinese - suffer. In China, they do not allow trade unions.

  • Thembi Precious Tantsi - 2014-04-15 20:50

    Sell it to Mathunjwa we wanna see if he can to the workers R12500

  • Hermann Visser - 2014-04-16 16:32

    Give the mines to whoever want it and then the miners will have no work, no pay ,no income. Then they can blame it on apartheid,but this time with empty st

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