AGL 37.80 Increased By ▲ 0.30 (0.8%)
AIRLINK 218.50 Decreased By ▼ -4.39 (-1.97%)
BOP 10.93 Increased By ▲ 0.11 (1.02%)
CNERGY 7.57 Increased By ▲ 0.01 (0.13%)
DCL 9.16 Decreased By ▼ -0.26 (-2.76%)
DFML 40.35 Decreased By ▼ -0.61 (-1.49%)
DGKC 102.11 Decreased By ▼ -4.65 (-4.36%)
FCCL 34.95 Decreased By ▼ -2.12 (-5.72%)
FFL 19.50 Increased By ▲ 0.26 (1.35%)
HASCOL 12.70 Decreased By ▼ -0.48 (-3.64%)
HUBC 131.00 Decreased By ▼ -1.64 (-1.24%)
HUMNL 14.59 Decreased By ▼ -0.14 (-0.95%)
KEL 5.19 Decreased By ▼ -0.21 (-3.89%)
KOSM 7.35 Decreased By ▼ -0.13 (-1.74%)
MLCF 45.80 Decreased By ▼ -2.38 (-4.94%)
NBP 66.04 Decreased By ▼ -0.25 (-0.38%)
OGDC 223.50 Increased By ▲ 0.24 (0.11%)
PAEL 44.30 Increased By ▲ 0.80 (1.84%)
PIBTL 9.01 Decreased By ▼ -0.06 (-0.66%)
PPL 194.00 Decreased By ▼ -4.24 (-2.14%)
PRL 43.50 Increased By ▲ 1.26 (2.98%)
PTC 26.62 Decreased By ▼ -0.77 (-2.81%)
SEARL 107.00 Decreased By ▼ -3.08 (-2.8%)
TELE 10.14 Decreased By ▼ -0.38 (-3.61%)
TOMCL 35.95 Decreased By ▼ -0.67 (-1.83%)
TPLP 14.58 Decreased By ▼ -0.37 (-2.47%)
TREET 25.98 Decreased By ▼ -0.55 (-2.07%)
TRG 67.40 Decreased By ▼ -1.45 (-2.11%)
UNITY 33.59 Decreased By ▼ -0.60 (-1.75%)
WTL 1.73 Decreased By ▼ -0.06 (-3.35%)
BR100 12,397 Increased By 33.3 (0.27%)
BR30 37,347 Decreased By -871.2 (-2.28%)
KSE100 117,587 Increased By 467.3 (0.4%)
KSE30 37,065 Increased By 128 (0.35%)

More than 30,000 striking workers at Anglo American Platinum's Rustenburg mines in South Africa rejected the firm's new return-to-work offer on Saturday, a labour leader said. Amplats said on Friday it offered a 4,500 rand ($520) one-off payment and agreed to start wage talks ahead of the expiry of current agreements next year.
The offer would lapse if workers do not show up for work on Monday, Amplats said. "Nobody is going back to work on Monday. The strike continues," labour leader Evans Ramokga said. "We are not happy with the conditions on the offer like the final warnings and threats of disciplinary actions for dismissed workers."
The company fired 12,000 workers who went on an illegal work stoppage in Rustenburg. The cost of the wildcat action, in its second month, is mounting and Amplats said it had lost almost 168,000 ounces in platinum production, worth over $250 million at current spot prices. The one-off allowance would cost the world top producer of the white metal 220 million rand.
But the company said it could not afford the wage increase demands being made. Workers want a salary increase of 4,500 per month, which would add about 2.6 billion rand to the company's wage bill, it said. South Africa's gold and platinum sectors have been shaken by months of illegal and often violent strikes which have resulted in the deaths of around 50 people so far this year. Most of the affected gold operations are back to work but Amplats, a unit of global mining giant Anglo American, is still struggling with crippling strikes at a time when the viability of its operations are being scrutinised.

Copyright Reuters, 2012

Comments

Comments are closed.