BUSINESS MAVERICK: The balance in SA’s bloody strike at Sibanye-Stillwater’s mines tips slightly

  • 📰 dailymaverick
  • ⏱ Reading Time:
  • 49 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 23%
  • Publisher: 84%

South Africa News News

South Africa South Africa Latest News,South Africa South Africa Headlines

BUSINESS MAVERICK: The balance in SA’s bloody strike at Sibanye-Stillwater’s mines tips slightly By Tim Cohen tim_cohen

The four-and-a-half month long strike at some of SA’s largest gold mines, in which nine people have been killed so far, is entering a crucial phase, with the delicate balance shifting ever-so-slightly in favour of the National Union of Mineworkers and the target company Sibanye-Stillwater and away from the strikers and their union, the Association of Mineworkers and Construction Union .

Still, there are twists. Despite the long duration of the strike, strike numbers are holding, but crucially all three of the mines are still running too at a slower rate. That’s very different from the situation when Amcu was thrusting into the platinum industry. At Driefontein, an Amcu stronghold, attendance is only about 25%; but at Kloof, it’s around 70% and at Beatrix, it’s about 60%.

One of the assumed intentions of the strike by Amcu was to solidify and galvanise its membership base, ousting the NUM once and for all. But it appears the balance has tipped the other way; not by much but by enough. The finding also allows Sibanye-Stillwater to extend the wage agreement it made with NUM, and in fact initially with Amcu representatives, to all employees. This could a crucial tipping point, because it would mean Amcu members would have the option of staying on strike, or returning at higher pay, albeit not as high as the union is demanding.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 3. in ZA
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

South Africa South Africa Latest News, South Africa South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

BUSINESS MAVERICK: How are SA’s new stock exchanges doing?South Africa’s new stock exchanges are reporting they are making great strides in their very short history, yet an argument still exists about whether they will enhance the market or just introduce greater volatility. However, Aspen’s recent decision to have a secondary listing on A2X suggests the markets are surprisingly – or perhaps unsurprisingly – finding a niche.
Source: dailymaverick - 🏆 3. / 84 Read more »