Amplats CEO apologises
Chris Griffith has apologised for comments he made in a daily newspaper earlier this week.
JOHANNESBURG - Anglo American Platinum's ( Amplats) CEO Chris Griffith has apologised for comments he made in a daily newspaper earlier this week justifying his multimillion rand salary.
Business Day reported Griffith, his 11 executives and top management had all been awarded R25,3 million in a bonus-share scheme that would pay out in three years as part of a skills-retention scheme.
The comments, which Griffith himself has since labelled as "inappropriate and seemingly insensitive", have been widely criticised.
Army and police have been deployed in Marikana as more workers are expected to return to work on 14 May 2014 after months of strike. Picture: Vumani Mkhize/EWN.
Griffith has issued a statement saying his choice of words that earning R6,7 million per year is fair pay was inappropriate.
But Griffith still argues the Association of Mineworkers and Construction Union (Amcu) demand for a minimum R12,500 wage remains unaffordable as it would increase the company's costs by approximately R4,5 billion per year.
The union has rejected the employers offer of a 10 percent increase and have vowed to continue with the strike until their demands are met.
Thousands of Amcu mineworkers marched to Lonmin's headquarters in Melrose Arch, Johannesburg, as they entered the 10th week of their strike for higher wages. 3 April 2014. Picture: Govan Whittles/EWN.
The strike has cost mining bosses more than R18 billion in revenue and workers have lost more than R8 billion in earnings since the strike started four months ago.
Meanwhile the National Union of Mineworkers (NUM) says it's not surprised Association of Mineworkers and Construction Union (Amcu) members are leaving the union to return to the NUM because of Amcu's militant strategy.
The NUM says once the strike ends and the mines reopen, it expects its membership on the platinum belt to swell.