[miningmx.com] – INTENSE political pressure could see Anglo American Platinum (Amplats) revisit plans announced just over a fortnight ago to restructure its Rustenburg business, a proposal that may affect up to 14,000 jobs and drew the ire of the government.
Zingaphi Jakuja declined to comment on a City Press article on Sunday (January 27) in which she was quoted to have said that Amplats may seek to ‘mitigate’ the effects of the restructuring proposal.
“Amplats has been allowed space to consult internally on these [number of proposals] and a formal pronouncement will be made on Monday (January 28) by the stakeholders,” Jakuja told the newspaper.
Asked whether a meeting between Amplats and the minerals resources department (DMR) last week could see the platinum firm modify its restructuring plans, Jakuja told Miningmx: “There was a meeting on Thursday (January 24) and there will be a follow up meeting on Monday. I am not commenting further but there will be a statement from the stakeholders,” she said.
If Amplats reshapes its restructuring proposal, it will cap a remarkable month even by the South African mining industry’s standards.
Mines minister, Susan Shabangu, issued an extraordinary statement on the day Amplats said it would retrench up to 14,000 jobs. Despite also announcing steps to redeploy affected employees, and invest in downstream employment opportunities, Amplats was singled out for breaking the terms of its mining licence.
Shabangu broadened her attack to Anglo American, which owns 78% of Amplats, saying that her department would review the UK-listed firm’s entire portfolio in South Africa for mining permit compliance.
Amid attempts to mollify Shabangu, Chris Griffith, CEO of Amplats, was then described as “arrogant”. Days later, the ANC’s secretary-general, Gwede Mantashe, waded into the debate declaring on SAfm that Anglo had stolen money from South Africa by dint of its listing in the UK.
