Amcu: Gold producers ‘not moving’ pay offer | Fin24
In partnership with
  • Load Shedding Schedules

    Find information for Johannesburg, Durban, Cape Town and other cities.

  • Govt Pension Fund

    The fund says it would be wrong to dismiss R250bn Eskom bailout proposal without all the facts.

  • Sovereign Wealth Fund

    Questions around the fund's scope & mandate remain unanswered, writes Dr. Malan Rietveld.


Amcu: Gold producers ‘not moving’ pay offer

Jul 07 2015 16:42
Paul Burkhardt


Company Data


Last traded 338
Change 21
% Change 7
Cumulative volume 1876444
Market cap 0

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

Related Articles

NUM may take legal action over Glencore layoffs

NUM rejects gold wage offer

Gold wage offer 'needs work' - union

Mining firms’ silicosis sins

Union says Amplats developer to fire 165 workers amid strike

Anglo plans major job cuts - sources


Johannesburg - The Association of Mineworkers and Construction Union (Amcu) said gold producing companies need to improve their pay offers or the labour group will leave the negotiations.

“Tomorrow if we’re not happy with the offer, we will declare a deadlock” in the talks, Manzini Zungu, a spokesperson for Amcu, which represents 30% of gold employees, said by phone.

Companies including AngloGold Ashanti [JSE:ANG] have proposed a five-year deal with annual increases of up to 13%, plus a share of earnings and improved job security and living conditions. The Amcu wants wages more than doubled for the lowest-paid employees. The SA inflation rate was 4.6% in May.

While keen to avoid a repeat of last year’s five-month platinum strike, the South African mining industry’s longest, the producers’ ability to raise salaries is limited by spiralling costs that have left much of the industry unprofitable.

The National Union of Mineworkers, which speaks for 52% of employees in the talks, rejected the first pay deal offered on Monday. The Chamber of Mines, representing producers, will respond to the unions Wednesday, Livhuwani Mammburu, a spokesperson for the union, said in a text message.

“If there’s no collective agreement stating at what point a dispute can be declared,” it can happen whenever the talks deadlock, Lusanda Myoli, a spokesperson for the Commission for Conciliation, Mediation and Arbitration, said in an e-mailed response to questions.

amcu  |  num


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

Voting Booth

How concerned are you about ransomware attacks?

Previous results · Suggest a vote