Today's Labour News

newsThis news aggregator site highlights South African labour news from a wide range of internet and print sources. Each posting has a synopsis of the source article, together with a link or reference to the original. Postings cover the range of labour related matters from industrial relations to generalist human resources.

strike thumb medium85 85Miningmx reports that Sibanye-Stillwater could not absorb the impact of a strike by the Association of Mineworkers & Construction Union (Amcu) for a protracted period, according to Hurbey Geldenhuys, an analyst for Vunani Securities.  

James Wellsted, head of investor relations for Sibanye-Stillwater, earlier commented that production from their SA gold mines affected by the strike, including Kloof and Driefontein, west of Johannesburg, had been inconsistent.  “There will be an impact on revenue.  There is some production taking place, and obviously we try to ensure we produce as much as possible, but it’s not consistent,” Wellsted told Bloomberg News.  While the strike won’t force a restructuring of the affected mines, there could be a review if the impact was severe, he stated.  Workers allied to Amcu started a strike on 21 November and the union has vowed to continue with the stoppage after refusing a wage deal agreed to by three other unions.  This has come at a time when the producer remains under pressure to reduce debt.

  • Read this report by David McKay if full at Miningmx
  • See too, Sibanye counts hit to earnings as strike at gold mines drags on, at Moneyweb

Get other news reports at the SA Labour News home page