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Strike

  • Impala Platinum is struggling to get back on track after last year's strike
  • Yesterday, the world's second biggest platinum producer Impala Platinum released a report covering production over its third quarter. In spite of revealing a large uptick in production over the period, Impala Platinum is lagging in its financial year so far. And the company warns of potential problems ahead due to power cuts. Investors didn't take kindly to the news, punishing its share pric... ››› more
  • [15 May 2015]
  • Could Medupi face further delays as workers strike?
  • The Medupi power plant has made the headlines over the past few years as delays and rising costs continue to plague its opening. And now work at Eskom's power plant is under further strain as interruptions hit the plant's construction for a second day. Let's take a closer look at what's going on… Eskom claims workers are blocking other workers from entering Medupi Earlier today, E... ››› more
  • [10 April 2015]
  • Renewed dollar strength puts the rand on the back foot once again
  • The rand has crept back over R12 to the dollar. On Friday, the US Federal Reserve (Fed) hinted at the future for interest rates in the world's largest economy. This saw investors piling back into the dollar. This has dragged the rand weaker. Let's take a closer look at what's going on… The rand weakens further against the dollar This morning, the rand continued to ebb against t... ››› more
  • [30 March 2015]
  • Eskom sacks 1,000 workers following a strike at Medupi
  • This morning, Eskom announced that it sacked around 1,000 workers who embarked on a one-day strike at its Medupi power plant. The workers are not employees of Eskom, they're employed through contractors. Let's take a closer look at what happened… The dismissals follow a one-day strike at Medupi A spokesman for Eskom says that around 1,000 workers at the “Medupi power plant have ... ››› more
  • [27 March 2015]
  • Eskom kicks off stage two load shedding as a strike at Medupi gets underway
  • South Africans should brace themselves for another night of disrupted power supplies. Eskom says it's resorting to stage two load shedding until later this evening. This comes as the power utility is contending with strike action at its Medupi power plant. Let's take a closer look at what's going on with Eskom… Stage two load shedding likely until 10pm tonight As of 4pm this a... ››› more
  • [25 March 2015]
  • Amplats warns of a drop in earnings of up to 55% after lengthy strike action
  • Earlier today, Anglo American Platinum (Amplats) released a trading update for the full-year to the end of December. The platinum producer warned of a sharp tumble in earnings over the period. This follows a five-month strike that hit its operations last year. Let's take a closer look at what Amplats revealed… Amplats says earnings are to fall between 40% and 55% Amplats [JSE:AMS]... ››› more
  • [23 January 2015]
  • Workers bring the week-long strike at Northam Platinum's biggest mine to an end
  • After downing tools last Tuesday night, striking workers have agreed to return to work at Northam Platinum's Zondereinde mine in Limpopo. The workers who took part in the wildcat strike are members of the National Union of Mineworkers. Let's take a closer look at what's going on… Production resumes at Northam after strike ends Yesterday, the NUM announced that its striking members... ››› more
  • [21 January 2015]
  • Will the wildcat strike at Northam come to an end today?
  • This morning, the National Union of Mineworkers (NUM) is due to meet with striking members of Northam Platinum. The workers downed tools last week in a wildcat strike, calling for the platinum producer's CEO to step down. Following outbreaks of violence and intimidation at the affected mine, Northam suspended operations on Friday. Let's take a closer look at what's going on… The N... ››› more
  • [19 January 2015]
  • After an outbreak of violence Northam suspends its Zondereinde operations
  • Earlier today, Northam Platinum announced that it had to temporarily bring operations at its Zondereinde mine to a halt. This came after an outbreak of violence at the mine. On Tuesday night, over 5,000 workers embarked on a wildcat strike amidst calls for the resignation of the platinum producer's CEO. Let's take a closer look at what's going on… Northam takes steps to protect worke... ››› more
  • [16 January 2015]
  • Less than half of workers return to work at Northam following a wildcat strike
  • On Tuesday night, over 5,000 workers began a wildcat strike at Northam Platinum's Zondereinde mine. It emerged that the workers, who are members of the National Union of Mineworkers (NUM), want the company's CEO removed. Yesterday, Northam secured an interim interdict to get workers to return to the mine. But this morning, Northam says that only around 40% of workers have returned so far. ... ››› more
  • [15 January 2015]
  • More than 5,000 Northam workers down tools amidst a wildcat strike
  • Last night, around 5,200 workers at Northam Platinum's Zondereinde mine in Limpopo downed tools as they began a wildcat strike. The platinum producer is taking steps to legally challenge the move by workers who are members of the National Union of Mineworkers (NUM). The company says it's unsure as to why workers are striking. But this afternoon it emerged that striking workers want Northam's... ››› more
  • [14 January 2015]
  • Business confidence creeps slightly higher in September
  • Yesterday, the South African Chamber for Commerce and Industry (SACCI) released its business confidence data for September. For the second month in a row, the SACCI reported a slight rise in business confidence. Let's take a closer look at what the data showed… Business confidence is stabilising The SACCI’s business confidence index (BCI) “nudged up 0.2 points to 89.2 in Sept... ››› more
  • [08 October 2014]
  • Public health workers' union demands a 15% pay rise
  • The National Education Health and Allied Workers Union (NEHAWU) is demanding a substantial pay hike and a housing allowance. The union says it plans to begin a number of protest marches this week as it claims the public health service is in crisis. Let's take a closer look at what's going on… NEHAWU will begin protest marches this week With about 280,000 members, the NEHAWU says i... ››› more
  • [01 October 2014]
  • PMI rises significantly after four-months in contraction territory
  • Earlier today, HSBC released its purchasing managers' index for August. The figures showed a sharp rise from July's figure. The rise reflects the end of widespread strike action that's plagued South Africa this year. Let's take a closer look at what the data showed… PMI came in at 51.1 for August The PMI published by HSBC “rose to 51.1 in August from 46.4 in July,” reports Fin... ››› more
  • [03 September 2014]
  • Trade activity falters as uncertain economic prospects and strikes take their toll
  • Earlier today, the South African Chamber of Commerce and Industry (SACCI) released its trade activity index for July. The data showed that trade activity is under severe strain. This is the worst level seen so far this year. Let's take a closer look at what's putting pressure on trade activity in South Africa… Trade activity is at its worst level for the year so far The Trade Acti... ››› more
  • [14 August 2014]
  • Business confidence slides lower as unemployment worries grow
  • Yesterday, the South African Chamber of Commerce and Industry (SACCI) revealed its business confidence index for July. The indicator showed that worries are growing over unemployment as strikes continue to plague different sectors of the economy. The rand weakened on release of the data. Let's take a closer look at what the index showed… Strikes hit business confidence hard SAC... ››› more
  • [08 August 2014]
  • PMI plummets to a record low as strikes take their toll
  • Earlier today saw the release of the Markit/HSBC purchasing managers' index (PMI). The indicators showed that business conditions hit a record low over the month of July. Relentless strike action and continued labour unrest has taken its toll on South Africa's private sector. Let's take a closer look at what the data revealed… PMI came in at 46.4 for July The Markit/HSBC purchasin... ››› more
  • [05 August 2014]
  • The NUM demands a 12% wage hike from Eskom
  • Last week, Eskom took steps to ensure the National Union of Mineworkers (NUM) couldn't go on strike. In spite of this, around 450 workers staged a walk out in protest last Tuesday. Yesterday, the union told Eskom that it demands a 12% wage hike at a small demonstration at the power supplier's headquarters. Let's take a closer look at what's going on… The NUM delivered a memo containi... ››› more
  • [05 August 2014]
  • The NUM and Kumba enter a new three-year wage deal without the threat of a strike
  • 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
  • [31 July 2014]
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