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Strike hits Amplats South African mines

  • Fewer than one in five workers showed up today at Amplats' (AGPPY.PK, AGPPF.PK) South African platinum mines around the city of Rustenburg, in protest against planned job cuts.
  • Amplats - part of global mining group Anglo American (AAUKY.PK, AAUKF.PK) and the world's No. 1 producer of the precious metal - said last month it would cut 4,800 jobs.
  • Unlike work stoppages since that declaration, Friday's action is legal and in keeping with a change of tactics by the mineworkers union, which was behind a wave of wildcat strikes that rocked South Africa's gold and platinum sectors last year and drove Amplats into the red.
Comments (1)
  • stepmag
    , contributor
    Comments (3) | Send Message
    I dumped my South African mine stocks this summer after reading about the AMCU Union Leader, Joseph Mathunjwa. You come away with the feeling that for him, being a Labor Leader isn’t so much a job, but that it is more like he’s leading some religious crusade.
    27 Sep 2013, 05:05 PM Reply Like
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