Today's Labour News

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bokoniDavid McKay reports that Atlatsa Resources is to cut more than half of some 6,101 employees at its Bokoni Mines operation in terms of a restructuring plan first announced in September.  

It has also agreed to co-operate with plans by its joint venture partner Anglo American Platinum to divest of its 49% stake after accepting a R334m interest-free loan.  The funds from the loan will cover Bokoni’s capital expenditure, operating and working capital expenses.  As of 31 December, mining employees had been reduced to 5,613 from 6,101, a reduction of 8%, consisting of a 13.4% decrease in contractors and a 4.3% decrease in ‘own mine employees’.  Recognised unions agreed to the labour cuts following an agreement signed on 8 February.  Said Atlatsa:  “Mine management is currently engaged in a redeployment process post signature of the retrenchment agreement, after which, retrenchment of certain employees who cannot be redeployed could take place.  The Restructure Plan targets a total labour complement of approximately 3,500 employees for Bokoni Mine”.  The process would be completed by the second quarter of this year.

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