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UNITED CALL: Disgruntled Marikana mineworkers protest to demand a salary increase. PHOTO: ANTONIO MUCHAVE

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In its 106-page investor report, titled "Watershed moment for SA miners - Future uncertain", JP Morgan Cazenove said the trio did not handle their individual responsibilities, pointing out that their apparent lapses eventually led to the August 16 tragedy in which 34 miners were shot dead by police.

While the report acknowledged that the pay gap between managers and workers was ever-growing, it seemed to suggest that investors would discourage any moves to drastically increase mine wages.

The report is prepared for JP Morgan Cazenove clients who invest in the country.

It stated that the labour relations climate in the mining sector was changing and there were unlawful disruptions at the mines because of the strikes.

The report also questioned whether the unrest in Marikana was not related to the political power struggle in the ANC.

The report cautioned that, should this be the case, "it might mean the unrest will continue until December at least, which could prove extremely damaging for the miners ...

"If there is any substance to a hypothesis that politics are connected to the current labour unrest, we fear a time may come when politicians blame mining companies for the broader poverty - driven unrest in areas surrounding their operations," the report warned.

The report blamed mining bosses for being slow to accept unions, describing the situation as "a pity since in a healthy labour democracy, productivity, safety and health can be more effectively delivered than in a dysfunctional environment, to the benefit of all stakeholders".

On the National Union of Mineworkers (NUM), it said there was a sentiment in the mining industry that NUM was losing touch with its constituency.

"This is because NUM has become too close to both mines management and the ruling ANC party."

It is believed this closeness to the ruling party and mine bosses opened the door for NUM's rival - the Association of Mineworkers and Construction Union (Amcu).

However, the report also attacked Amcu for having "not followed the (labour) processes ... and has therefore not worked within SA's labour law framework". - molatlhwao@sowetan.co.za

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Mon May 20 16:32:59 SAST 2013 ::

Sep 7, 2012

LostGuy

Someone is talking sense here....
i blame NUM, Zuma and his cronies and the DA here...lol
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Sep 7, 2012

Zabaragast

Kak.
I'd say Govt, mining bosses and unions have done well in keeping the miners wages as low as during apartheid, which caused the illegal strike.
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Sep 7, 2012

Papage

"The report is prepared for JP Morgan Cazenove clients who invest in the country" You know what will this do to the economy of the Country? I think people should start been reseonable, strikes solve nothing, but bring hatred towards each other. we need to start owning our companies and doing what is good for all of us. I believe this report is going to destroy this country, remember we use to be the No.1 gold producer and Platinum producer, right now, China is No.1 and USA is up there, the next thing they wont even need us, we will all suffer because of greed, let us talk and resove our differences in a civil manner, please get Mr Thabo Mbeki to assist the miners and the Owners, I believe he can assist in Marikane problem and that will bring the confidence of investors back, Cal Mr Mbeki to help.
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Sep 7, 2012

MorenaWaPolelo

Imperialists prepared the report to slate our government and hopefully deter investors, I will wait for the CoE report prepared by a South African Judge.
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Sep 7, 2012

P4T

It is a inargueable fact that the mineral resources of SA, if mined and managed properly, effectively and efficiently, can support ALL citizens of this country - meaning NO PERSON will EVER BE IN POVERTY and live in an UNDERDEVELOPED Country.

Question: Why is it that this cannot be achieved?

Answar: Greed...Greed...Greed by Gov leaders, Mining Bosses and Union Bosses. Only they can benefit and not anyone else including the very same asset which is the workers, which help in the acquisition of such wealth.
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Sep 7, 2012

RobinH

Oh Morena, It must be so hard to survive with such entrenched party loyalty. Do you EVER think for yourself?

This report seems spot on. Now let's see if anyone in any position to do anything will read it.... and actually pay attention.
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Sep 7, 2012

Nwanawamukalaha

Thank you JP Morgan Cazenove for put that to everyone to see and read..........Zuma and his cronies wanted to protect the BEE Robbery Scheme while enriching themselves whereas we people on the ground are suffering............
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Sep 7, 2012

Papage

Will I do JP Morgan evening Race again next year? Why should I. Only if they were helping to solve the problems the country is having the better, rather than fingering other people. What is the majority of the SA Comapanies say about this, why keep quite when things go wrong? conderm the Government and the Union and Workers, help them to resolve their issues in a humanly manner, please and tell the useless Cop leaders to act like Police not happy triger thugs
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