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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