Lonmin wage deal
Miner Lonmin reports core profit after cost savings
Lonmin’s shares have lost around 90% of their value over the last year due to strike action & rising costs.
A report revealed that Lonmin transferred R1.2bn to Bermuda in the wake of the Marikana tragedy.
A top Lonmin official says they were already a year into a wage agreement which had been signed and accepted.
The plan would see the closure of four to six of the company's 11 shafts.
NUM is concerned with relief only being provided for Amcu victims of the Marikana shooting.
The mining giant told employees that it is not worth risking their lives to return to their posts.
The union leader says striking members must not be agitated by those who choose to work.
Extra security is on site in the Marikana area in the wake of recent violence.
The longest and most costly labour stoppage has cut 40 percent of global platinum production.
The deputy president’s spokesperson said the meeting would’ve taken place even if there was no strike.
The platinum miner posted a forecast-beating pre-tax annual profit of $140 million.
Talks with Implats, Anglo American and Lonmin have deadlocked.
A strike across the platinum belt is looming after Amcu members voted to down tools.
Workers from Lonmin’s Marikana mine sang the national anthem and prayed for peace.
Marikana miners showed strong support for upstart union Amcu at the Wonderkop Stadium.
Lonmin management says the wage settlement signed by them and miners is in honour of staff who died.