11-day Amplats Strike Reaches an End

Mineweb reported that a strike at Anglo American Platinum Ltd.’s (LSE:AAL) South African operations is now over. Led by the Association of Mineworkers and Construction Union (AMCU), the strike lasted 11 days and was caused by workers’ dissatisfaction with impending job cuts.

As quoted in the market news:

According to Amplats, ‘as part of the strike settlement, the 3,300 impacted employees who had previously not taken up the offer of redeployment, voluntary separation or early retirement, and were to be retrenched, have now been granted voluntary separation packages.’

Amplats will also retain approximately 1,250 of those 3,300 employees ‘for a period of six months to undertake reclamation activities at the affected operations (Khuseleka 2 and Khomanani 1 & 2).’

‘During this period, these employees will be offered job opportunities that may become available as a result of ending the use of contract labour or vacancies created by natural attrition. At the end of the six month period, employees not placed in vacant positions will be exited with voluntary separation packages.’

Click here to read the full Mineweb report.

Click here to read Platinum Investing News’ coverage of the strike.