The Conversation (0)
AngloGold Ashanti (NYSE:AU) announced that its South African mines remain inactive due to an unprotected strike, but commented that it is open to considering negotiations.
AngloGold Ashanti (NYSE:AU) announced that its South African mines remain inactive due to an unprotected strike, but commented that it is open to considering negotiations.
The company described its stance as follows:
- We are deeply disappointed that our employees have chosen to break their commitment to the current wage agreement and collective bargaining structures
- We do not intend to reward broken commitments, violence and threats of intimidation
- We remain committed to our employees and the collective bargaining processes as a way to resolve our differences with recognized unions and associations
- If the current unprotected strike continues, it compounds risks of a premature downsizing of AngloGold Ashanti’s South African operations
- In a country where roughly one in four people do not have work, it is incomprehensible that strikers are engaged in activities that threaten jobs in a cornerstone industry that is central to South Africa’s growth aspirations, and where wage rates are highly competitive as compared to other labour intensive sectors in the country.
Click here to read the full AngloGold Ashanti (NYSE:AU) press release.
