UPDATE 1-Union to strike at Sibanye-Stillwater's South African gold operations

By Kitco News / November 19, 2018 / www.kitco.com / Article Link

(Adds detail, background)JOHANNESBURG, Nov 19 (Reuters) - Sibanye-Stillwater said on Monday that the Association of Mineworkers andConstruction Union (AMCU) planned to strike on Wednesday at itsSouth African gold operations after wage agreement talks brokedown.


Sibanye-Stillwater, which had signed a three-year wageagreement with three other labour unions, said AMCU represents43 percent of its workforce of 32,200 at its South African goldoperations.


Gold producers in Africa's most industrialised economy haveargued that above-inflation wage hikes have added to the costburden in the bullion industry, which has been hit by depressedprices and labour unrest. South Africa's inflation stood at 4.9percent in September. Sibanye agreed to a three-year wage agreement with theNational Union of Mineworkers (NUM), Solidarity and UASA lastweek ending months of negotiations. Sibanye said it would not be increasing its offer to AMCUand would not pay striking workers. It also said it could notyet predict the impact of any strike on its output.


AMCU officials were not immediately able to comment.


(Reporting by Tanisha HeibergEditing by James Macharia)

Messaging: tanisha.heiberg.thomsonreuters.com@reuters.net)) Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.
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