Implats chases peace in 4.8% wage hike
On a poor day for South Africa Inc. - with Amplats to dismiss 23,000 employees and
a Moody’s downgrade - Implats said that it would grow its wage bill 4.8% in an
effort to restore peace.
Fortunes may change for Anglo American
Platinum woes aside, the market is recognising Anglo American CEO Cynthia Carroll’s
efforts to get some of the company’s monkeys off its back.
Strike contagion shuts down 40% of SA gold
AngloGold Ashanti confirmed its South African production had been interrupted as
strike action spread, a development that could prove catastrophic and involve
catalysing downsizing.
Amplats ‘serious’ over punitive measures
Anglo American Platinum will go where others are fearing to tread should it carry out
its threat of dismissing workers who continue to disregard a return-to-work
ultimatum.
Amplats extends ultimatum
Striking workers at Anglo American Platinum’s Rustenburg operations are facing the
sack should they not return for duty by Thursday, the company says.
“Perfect storm’ afflicts CoAL’s share price
Strike action, depressed thermal coal prices and corporate uncertainty were the
factors creating a perfect storm in Coal of Africa’s share price, an analyst said.
Why Harmony should rethink Golpu options
Harmony Gold will not produce enough gold in South Africa to fund its share of the
$5bn Golpu development costs.
Zimplats accepts $33.8m tax charge
Zimplats has conceded defeat in its battle with the Zimbabwe Revenue Authority,
saying that it won’t further contest a revised tax assessment of $33.8m.
CoAL hit by 22% wage increase demand
Coal of Africa’s Mooiplaats colliery has been hit by a strike over wages, the company
says, sending the group’s share price to a new low.
Forbes Coal buys Rio Tinto’s ZAC
Forbes & Manhattan Coal is buying global diversified miner Rio Tinto’s majority stake
in Zululand Anthracite Colliery for an estimated R440m.