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NUM to march against AngloGold’s retrenchment plans

Jul 31 2017 09:04

(Mujahid Safodien, AFP)

Company Data

ANGLOGOLD ASHANTI LIMITED [JSE:ANG]

Last traded 290
Change 7
% Change 2
Cumulative volume 128969
Market cap 0

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

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Cape Town – The National Union of Mineworkers (NUM) Matlosana region will embark on a protest march against AngloGold Ashanti [JSE:ANG] on Tuesday, after the miner announced in June it will retrench 8 500 workers at its two operations in Matlosana and Carletonville.

"The NUM will fight and defend the working class dignity to expose the brutal capitalists of AngloGold Ashanti to retrench more than 8 500 workers and its brutal exercise that shows how the employer values black mineworkers,” NUM Matlosana region education secretary Masibulele Naki said in a statement on Monday.

“It, therefore, becomes necessary for workers and specifically NUM members not to allow the company to undermine workers of which the majority is black people.”

The NUM will march from the Umzimuhle shopping centre to AngloGold office at No1 Vaal Reefs from 15:00 on Tuesday, it said.

When the announcement was made in June, the NUM said it was “extremely angry and shocked” by the decision and called on AngloGold to rethink its position to retrench.

AngloGold CEO Srinivasan Venkatakrishnan said in a statement on June 28 that it was “a difficult decision, which follows a period of significant and – ultimately – unsustainable losses, and also the evaluation of the options available to return our South African business to profitability.

“It is critical that we act to protect the long-term sustainability of this business and the majority of our workforce,” said Venkatakrishnan.

“We are mindful of the sensitivity that this situation demands, and are committed to supporting all our employees throughout this process.”

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