As a South African, we're tired of waking up every day and reading the comedy politicians spew out. In some way it's very entertaining. But in another way, it's very worrying that these are the people that lead our country on a daily basis.
It's extremely worrying that we have government officials who have no clue what they're doing.
Yet we still have people standing up and delivering the... ››› more
Gold producer, Sibanye Gold has had to halt production at its Beatrix mine near Welkom. This is down to the breakout of a fight between workers of different unions.
This happened yesterday afternoon. The company took action in a bid to prevent further injuries and to allow some sort of reconciliation to take place between the two parties.
Let's take a closer look at what's going on…
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Earlier today, Anglo American Platinum (Amplats) released a trading statement covering its full-year to the end of December this year.
In the statement, Amplats revealed the company expects earnings for the full-year to drop significantly. This is mostly in part to a five-month strike that hit the platinum producer this year.
Let's take a closer look at what Amplats said…
Amplats say... ››› more
It's been a tough year for Lonmin so far. A five-month strike in the platinum sector hit its production.
Yesterday, reports speculated that the platinum miner had plans to let go up to a fifth of its workforce.
But the CEO of Lonmin, Ben Magara, says this is untrue. He says the miner is concentrating on increasing production.
Let's take a closer look at what's going on…
Lonmin foc... ››› more
Earlier today, the National Union of Mineworkers (NUM) announced that it had agreed to a new wage deal with Kumba Iron Ore.
The deal sees the union securing the best wage hikes for its lowest paid members.
Let's take a closer look at the new wage deal…
The wage deal sees a solid rise in pay
The NUM has “secured a 17.5% increase for the lowest category of employees” with Kumba... ››› more
Earlier today, Anglo American Platinum (Amplats) released its results covering the six months to the end of June. The five-month long strike took its toll on production, with earnings dropping drastically for the period.
Amplats also revealed it plans to sell off some of its operations.
Let's take a closer look…
Amplats’ headline earnings per share fell almost 90%
In its latest six-... ››› more
After the five-month long strike that crippled the production of the world's three top platinum producers, another platinum producer has signed a new wage deal without any industrial action.
Yesterday, Royal Bafokeng Platinum and the National Union of Mineworkers (NUM) announced a new three-year wage deal.
Let's take a closer look at the new agreement…
A new wage deal in the platinum se... ››› more
The parent company of Anglo American Platinum (Amplats), Anglo American, released its second quarter production report earlier today.
Not surprisingly, the diversified miner reported a sharp drop in platinum production. But other resources mined showed strong growth.
Let's take a closer look at the report…
Anglo American shares dipped on release of the report
On release of the report... ››› more
South Africa is heading down a dangerous path.
One described as rampant and uncontrolled unionism that if not halted, will become unaffordable.
For five months, Amcu lead crippling strikes in the platinum sector. A strike that won workers about R36,000 over three years, but cost them R52,000 in lost wages.
Then as soon as the platinum strike ended, NUMSA announced it would strike. And alr... ››› more
On Friday, around 2,000 workers at Impala Platinum (Implats) downed tools in a wildcat strike at the platinum producer's Marula mine. This comes just weeks after the five-month long strike in the platinum sector came to an end. Let's take a closer look at what's going on…
NUM members want higher wages
Employees of Impala “affiliated with the National Union of Mineworkers (NUM)” began str... ››› more
It's a common joke that South Africans are Olympic level strikers and it must be true because not only are we eligible for the marathon, after the 5 month long platinum strike, we appear to want to try our hands at the relay. Just as we ended one strike last week, we look set for another even larger one this week.
Another strike for South Africa
Approximately 220 000 workers in the metals ... ››› more
Following the Association of Mineworkers and Construction Union (AMCU) and the platinum producers signing new wage deals yesterday, workers are streaming back to the mines today. But it will be at least a week before any type of production resumes. Let's take a closer look at what's going on…
The longest strike in South African history is over
This morning saw thousands of workers going back... ››› more
After five months of strikes, yesterday Amcu signed the new wage agreements with the big platinum mining companies. This deal secured wage rates for the next three years.
And right now, this deal will be the catalyst for a massive profit opportunity for value investors.
Let me explain.
Platinum profits have been hit, but the value is still there
Although the strike has ended, a... ››› more
Yesterday afternoon, news emerged that the five-month long strike in the platinum sector was over. The Association of Mineworkers and Construction Union (AMCU) and the top three platinum producers finally agreed a new three-year deal. The rand strengthened on the news. And this morning the rand continues to hold its gains. Let's take a closer look at what's going on…
The rand rallied 1% on ne... ››› more
Late yesterday afternoon came the news that finally the platinum sector strike was over. The Association of Mineworkers and Construction Union (AMCU) is set to sign the new agreements today. And all going well, striking employees will return to work tomorrow. Let's take a closer look at what's going on…
The AMCU agrees to sign the new deal
The AMCU’s has “officially declared an end to th... ››› more
Today marks five months since members of the Association of Mineworkers and Construction Union (AMCU) began strike action against the three largest platinum producers. It looks like the strike is finally coming to an end as the AMCU presents new offers to its members today. An agreement will see the longest strike in South African history come to an end. Let's take a closer look at what's going on... ››› more
In January, the Association of Mineworkers and Construction Union (AMCU) attempted to down tools at three gold producers as it began strike action in the platinum sector. The affected gold producers took the AMCU to court over the matter. They obtained an interdict preventing the AMCU from striking. Today, the Labour Court made the order permanent. Let's take a closer look at what's going on…
... ››› more
…The union appears to change its demands. This follows the Association of Mineworkers and Construction Union (AMCU) and the platinum producers agreeing ‘in principle' to a resolution at the end of last week. But now it's emerged that the union has issued further demands. An end to the lengthy strike is starting to look further away. Let's take a closer look at what's going on…
The AMCU is... ››› more
At the end of last week came the good news that the platinum producers and the Association of Mineworkers and Construction Union (AMCU) were on the brink of an agreement. It appeared the union just had to run the new deal past its members. But as the long weekend has passed, a deal is no closer. So what's going on? Let's take a closer look…
Platinum producers and the AMCU have yet to finalise... ››› more
Last week was a mix of good and bad for the stock market.
Let's have a look at what happened and what you can expect from the week ahead…
Last week’s stock market positives included…
On the good side, the platinum strike appears to winding down. By taking restructuring pay packages, AMCU got a deal that allowed it to save face, while the mining companies are paying o... ››› more
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