Today's Labour News

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Sibanye StillwaterReuters reports that a US law firm has filed a class action lawsuit against Sibanye-Stillwater on behalf of shareholders to recover losses suffered after a spate of deaths at its mines triggered a sharp fall in its share price.  

Bernstein Liebhard said the suit would deal with "misleading statements" made by the precious metals producer, which has had 21 fatalities at its operations so far in 2018, almost half the total in SA’s mining industry.  On Tuesday, Parliament’s mineral resources portfolio committee chairman, Sahlulele Luzipo, said it was "high time the company was placed under curatorship".  He went further and suggested that the miner’s operating licence should be withdrawn.  While expressing concern about the fatality rates, the trade unions concerned, namely the Association of Mineworkers and Construction Union (Amcu) and the National Union of Mineworkers (NUM), pushed back at suspending the operating licence, saying many families relied on the mines for survival.

  • A short report by Tanisha Heiberg is at BusinessLive
  • Read too, Sibanye has a new problem: a shareholder class action suit, at BusinessLive

Get other news reports at the SA Labour News home page