11th Oct 2013 07:39
LONDON (Alliance News) - Anglo American PLC Friday said strike action related to the restructuring of its Anglo American platinum business in South Africa has ended.
The global mining and minerals producer said it has concluded a deal with the Association of Mineworkers and Construction Union, which commenced strike action on September 27 at its Rustenburg and the North of the Pilanesburg operations
The strike action began after Anglo American began implementing restructuring plans which would have threatened 14,000 jobs.
Anglo American said that after extensive talks with the Department of Mineral Resources and the South African union, the company revised this down to 6,000 affected employees.
As part of the strike settlement, 3,300 affected employees who had previously not taken up the offer of redeployment, voluntary separation or early retirement, and were to be let go without compensation, have now been granted voluntary separation packages.
Operations in Rustenburg and the North of the Pilanesburg will resume operations after safe start procedures have been completed
Anglo American is one of many companies facing ongoing class-action litigation in South Africa. The cases involve thousands of former mine workers who are claiming that companies were liable for their contraction of silicosis and silicotuberculosis from excessive dust at mines.
The company lost 44,000 platinum ounces of production during the 11 day strike but said sales were not affected due to the company having a strong inventory.
Anglo American shares were trading up 1.1% at 1,492.50 pence in early trading Friday.
By Tom McIvor; [email protected]; @TomMcIvor1
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