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S.Africa Union Says To Strike At Northam Platinum Ltd From November 03, 2013-Reuters

Friday, 1 Nov 2013 04:56am EDT 

Reuters reported that over 7,000 members of South Africa's National Union of Mineworkers (NUM) will down tools at Northam Platinum Ltd on November 03, 2013 night in a strike over wages, the union said on November 01, 2013. NUM gave the Company a 48-hour notice on October 31, 2013 of its intention to strike - a legal requirement - but said it was willing to continue talks. NUM is demanding the Company raise wages by between 22% and 43%, depending on the level of employees, and increase housing allowances by 69%. The dispute involves the workforce at Northam's Zondereinde operation, which accounts for the vast majority of its annual production of 300,000 ounces a year. Northam said it has improved its offer to include increases of 7 and 8% in the first year, above the current inflation rate of 6%. 

Company Quote

-11.0 -0.28%
3 Jul 2015