Glencore mine closure not good news - union | Fin24
  • Covid-19 Money Hub

    The hub will help answer your business and money questions during the coronavirus crisis.

  • Dudu Myeni

    The former SAA chair has been declared a delinquent director for her role at the national airline.

  • Cigarette Ban

    Govt says emerging research shows smoking leads to more severe cases of Covid-19.


Glencore mine closure not good news - union

Jan 30 2015 11:32

Company Data


Last traded 33
Change -1
% Change -4
Cumulative volume 1662704
Market cap 0

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

Related Articles

David Shapiro’s expert insights on SA, oil and the latest in today’s markets

NUM strikes over retrenchment package

Miners end strike at Glencore chrome venture


Johannesburg - Glencore's intention to retrench over 1000 employees at its Optimum Coal Mine in Mpumalanga is disappointing, trade union Uasa said on Friday.

"Optimum Coal's announced intention to retrench approximately 1 070 employees is disappointing," divisional manager Franz Stehring said.

"South Africa already ranks among the worst in the world in terms of unemployment figures and retrenched workers will simply add to the woes of an already desperate situation."

READ: Miners end strike at Glencore chrome venture

On Thursday the mining company announced it was considering closing some operations at the mine due to financial hardship.

Glencore [JSE:GLN] spokesperson Gugulethu Maqetuka said the closure would reduce its overall production in South Africa by at least five million saleable tonnes per annum.

"The proposed closure of these operations would affect approximately 1 070 employees," Maqetuka said.

Stehring said the union would interrogate the company's rationale for retrenchments.

"We intend to influence the company's selection criteria according to which employees are to be declared redundant and will creatively explore ways and means to minimise redundancies," he said.

ALSO READ: NUM members strike at Glencore coal mine

glencore  |  uasa  |  labour  |  mining  |  jobs  |  sa economy


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 has Covid-19 impacted your financial position?

Previous results · Suggest a vote