Amplats fires miners and share price falls
Anglo American Platinum said disciplinary hearings for striking Rustenburg mine employees have been completed and affected employees will be informed of the outcome of the hearings today‚ but around 12‚000 striking employees who chose not to make representations‚ nor attend the hearings‚ have been dismissed in their absence.
The employees who did participate will have three working days to appeal the outcome.
The company confirmed it is experiencing "a strike contagion" at its Union and Amandelbult (Tumela and Dishaba) operations‚ where workers have presented memorandums of demands similar to those received in Rustenburg.
Anglo American Platinum confirmed that as a result of the illegal industrial action of its employees and the initial safety suspension‚ total lost platinum production has amounted to 39‚000 ounces‚ resulting in losses worth about R700m.
"We are committed to participating in the platinum centralised engagement structures driven by the Chamber of Mines‚ as well as exploring the possibility of bringing forward wage negotiations within our current agreements‚" said Chris Griffith‚ Anglo American Platinum's chief executive.
The Union and Amandelbult Mines‚ including Mortimer Smelter‚ are not operating.
Meanwhile, the company's shares traded lower on Friday afternoon as a result of the disciplinary action. Shortly before the JSE closed, Amplats shares were trading at R397.62 from R407.60 earlier on Friday.
Source: I-Net Bridge
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