Today's Labour News

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mosebenzizwaneMining Weekly reports that Department of Mineral Resources (DMR) Minister Mosebenzi Zwane has given platinum producer Lonmin the go-ahead to acquire Anglo American Platinum’s (Amplats’) 42.5% stake in the Pandora platinum joint venture (JV) operation.  

This will save the 3,000 jobs that would have been lost had the operation been placed under care and maintenance.  Zwane granted consent for the cession of the right in terms of the Mineral and Petroleum Resources Development Act.  He noted in a statement released Wednesday:  “One of our primary considerations when assessing [Lonmin’s] application was how we were best going to prevent retrenchments at the time.  We are indeed pleased that we have been able to save 3,000 jobs, particularly in the current global economic climate.”  Zwane added that Lonmin had five days to issue the DMR with a plan on how it would address broad-based black economic-empowerment compliance at Pandora, as the DMR “cannot afford a situation where transformation is compromised”.  The Minister’s approval of the application comes amidst his proposed moratorium on the granting or renewal of mining and prospecting rights.

  • Read this report in full at Mining Weekly
  • See too, Zwane helps to save 3,000 mining jobs, at Business Report
  • And also, Zwane declares DMR “reasonable” after approving Lonmin deal, at Miningmx

Get other news reports at the SA Labour News home page