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Glencore mine closure not good news - union

Jan 30 2015 11:32


Company Data

GLENCORE PLC [JSE:GLN]

Last traded 43
Change -1
% Change -3
Cumulative volume 2690448
Market cap 0

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

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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
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