NUM to march against AngloGold’s retrenchment plans | Fin24
  • New Notes

    Long queues have formed in Harare after Zimbabwe released new bank notes and coins.

  • Open Book

    Former President Jacob Zuma says the public protector can access his tax records.

  • SAA Strike Proposal

    The flag carrier's acting CFO says a strike could destroy the struggling airline and all its jobs.


NUM to march against AngloGold’s retrenchment plans

Jul 31 2017 09:04

(Mujahid Safodien, AFP)

Company Data


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

Related Articles

NUM to fight jobs bloodbath at AngloGold

NUM issues warning as unions and coal miners agree to collective wage talks

NUM welcomes Seriti's purchase of Anglo coal mines

How not to close a mine

SA gold mines are on the brink of death

AngloGold job cuts may be tip of iceberg


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.”

SUBSCRIBE FOR FREE UPDATE: Get Fin24's top morning business news and opinions in your inbox.

Read Fin24's top stories trending on Twitter:

num  |  anglogold ashanti  |  labour


Company Snapshot

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

What do you think about private healthcare in SA?

Previous results · Suggest a vote