adminJohannesburg. — Anglo American Platinum Ltd mines halted as workers started a strike to protest against 3 300 planned job cuts at the South African operations of the world’s largest producer of the metal.Less than 20 percent of employees reported for duty at the company’s mines near Rustenburg and north of the Pilanesberg in the North West province, Anglo Platinum, known as Amplats, said in a statement last week.
“Production will be impacted by the strike although sales will not be impacted at this point,” the Johannesburg-based company said.
The Association of Mineworkers and Construction Union, the biggest at Amplats, is challenging last month’s decision by the company to consolidate five mines into three at its Rustenburg complex to curb costs.
The mines are losing more than 1 billion rand (US$100 million) every six months, Chief Executive Officer Chris Griffith said August 30. Amplats produces as much as 40 percent of world supply.
Employees not affiliated with AMCU also were affected. While minority union UASA isn’t striking, “there is very little other workers can do without AMCU’s members”, said Franz Stehring, head of mining at UASA.
The company’s processing unit isn’t affected, Amplats said. The stock fell as much as 1,9 percent to 431,52 rand, the lowest in more than a week. The shares traded 0,6 percent lower at 437,25 rand by in Johannesburg. — Bloomberg.
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