Today's Labour News

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amcu thumb medium80 81BusinessLive reports that the appeal brought by the Association of Mineworkers and Construction Union (Amcu) against the Competition Tribunal’s conditional approval of Sibanye-Stillwater’s takeover of Lonmin has been set down for 2 April.  

Amcu, which is engaged in a protracted strike at Sibanye’s local gold mines and threatening to spread it to the company’s platinum mines around Rustenburg, is fiercely opposed to the takeover, citing job losses as its primary concern.  While Amcu president Joseph Mathunjwa has declined to link the gold strike to the Lonmin transaction, the two matters are widely regarded as related.  Amcu embarked on the gold strike on 21 November, the same day the tribunal conditionally approved the all-share takeover.  Drawing a firm line under the varied number of jobs that could be lost because of the merger, the tribunal imposed a moratorium on all job cuts for six months pending the outcome of a detailed study.  Lonmin and Sibanye have extended the stop date for the conclusion of the transaction to end-June from end-February to accommodate the appeal process.

  • Read Allan Seccombe’s report in this regard at BusinessLive
  • Read too, Competition Appeal Court to hold Sibanye, Lonmin merger hearing on 2 April, at Mining Weekly

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