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IMPUY Impala Platinum Holdings Ltd (QX)

4.83
-0.13 (-2.62%)
Last Updated: 17:21:15
Delayed by 15 minutes
Name Symbol Market Type
Impala Platinum Holdings Ltd (QX) USOTC:IMPUY OTCMarkets Depository Receipt
  Price Change % Change Price Bid Price Offer Price High Price Low Price Open Price Traded Last Trade
  -0.13 -2.62% 4.83 4.82 4.93 4.96 4.83 4.96 45,022 17:21:15

Union Says Member Killed Amid South Africa Platinum Strike

22/05/2014 1:57pm

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JOHANNESBURG--A platinum mine worker was stabbed and killed on his way to work Thursday morning, as mining companies and union leaders meet to try and resolve South Africa's 18-week long strike, a union leader said.

A member of the National Union of Mineworkers, which isn't on strike, was killed while leaving his informal settlement in Rustenburg to go to work at the Union mine owned by Anglo American Platinum Ltd. in Limpopo province, NUM spokesman Livhuwani Mammburu said.

The victim, a worker from Mozambique, had returned to work at the mine last week but striking colleagues threatened him so he had been hiding in Rustenburg and making the commute to Limpopo daily, Mr. Mammburu said.

This is the fifth death this month in the platinum mining region. Four other people were killed last week near a mine operated by Lonmin PLC. One mine worker had been stabbed to death, another burned in his home and a third was strangled along with his wife. Since then, police have increased their presence in the area.

More than 70,000 mine workers have been on strike since the end of January led by the Association of Mine workers and Construction Union. The workers are demanding a near tripling in their salary, from an entry level wage of around 5,000 rand a month ($481) to ZAR12,500.

Platinum mining companies said they cannot afford this and due to the length of the strike some have lost a third of their annual platinum output. Lonmin said this month that the company would have to restructure as a result of the length of the strike and that will likely mean job cuts. The company this week fired 235 employees who haven't shown up to work since the start of the strike.

Representatives from AMCU and Anglo American Platinum couldn't be reached for comment.

This week, South Africa's labor court intervened in the strike, which has cost the mining companies nearly $2 billion in lost revenue and is hurting the country's already sluggish growth, to mediate fresh talks between the union and companies. Talks started Wednesday and will run through to Friday.

Write to Devon Maylie at devon.maylie@wsj.com

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