• Tweet

UP IN ARMS: Workers from Lonmin's Marikana Mine in Rustenburg during their illegal strike. PHOTO: ANTONIO MUCHAVE

RELATED ARTICLES

• Another platinum mine hit by strike
• Plan to sue gold mines

A violent six-week strike at Implats' Rustenburg operations early this year sliced 21% off its full-year production and, combined with declining metals prices, led to a sharp cut in its dividend, to R1.95 a share from R5.70 last year.

"The platinum industry is experiencing increased levels of industrial action, as witnessed at both Impala Rustenburg at the beginning of this year and more recently at Lonmin, with the associated tragic loss of life. These developments pose a significant risk to the industry," said Implats' newly installed chief executive Terence Goodlace.

Describing the labour relations at Implats' operations as "relatively stable", Goodlace said the trade union rivalry that sparked the strike at both its operations and Lonmin's was still "fairly volatile".

The platinum price has also jumped to a three-month high on the threat that South Africa, as supplier of 80% of the world's platinum, could be disrupted indefinitely.

Meanwhile South Africa's Impala Platinum said yesterday it had joined the country's chamber of mines as a full member, a move that could see it eventually bargain collectively with other companies and stem a wave of labour unrest.

Comments

• Sign in or sign up to comment

Sat May 25 19:26:08 SAST 2013 ::

Aug 24, 2012

lamolath

Let this country come to stand still....diphiri di sa tlotswa.i doubt ANC is going to rule untill OUR LORD JESUS comes back. they won't lead us for another two election...
Report Abuse

Read all 1 comments