South32 expects to start rebuilding at Mozambique project after post-election hit
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Impala Platinum Holdings Ltd. said an underground protest at one of its mines in South Africa is unresolved, with more than 2,000 workers still below surface.
The situation at the Bafokeng Rasimone mine in South Africa’s North West province is little changed from Tuesday evening, when 167 had safely returned to the surface, Johan Theron, a spokesman for the Johannesburg-based company known as Implats, said Wednesday.
About 2,205 employees started an underground protest on Monday. The company said the motivation relates to “several misinterpretations and misunderstandings brought to the fore by the recent change in ownership at Impala Bafokeng,” including the view that accumulated pension-fund balances can be paid out to employees and concerns about a profit-share arrangement.
“The exits for both North and South shafts remain open and accessible, and assistance is available to employees electing to exit the shafts when they are ready to do so,” Implats said.
Illegal underground protests and copycat unlawful actions at mining operations in South Africa have become more prevalent in recent months, causing disruptions in the broader mining industry, Implats said. The action at Bafokeng Rasimone is the fourth such protest since October.
Last week, about 500 employees were underground at Gold One International Ltd.’s Modder East operations southeast of Johannesburg, some of whom were held hostage and tortured, according to City Press.
Mpho Phakedi, the National Union of Mineworkers’ deputy general secretary, told Bloomberg News that he wasn’t able to confirm whether people are being held against their will at Bafokeng Rasimone.
“I wouldn’t say that with certainty,” he said by phone. “The union representatives have met with management,” he said, adding that the union is awaiting feedback.
Implats rose 3.2% to 88.71 rand — the highest since Oct. 18 — by 9:54 a.m. in Johannesburg. Platinum climbed for a third day, advancing to $961.55 an ounce.
“Given prevailing low platinum group metal prices, the financial sustainability of the broader PGM industry is at risk,” the company said Tuesday. “This illegal protest action serves to aggravate this position at Impala Bafokeng, adding unnecessary additional pressure on the operation and, as such, its ability to sustain employment.”
(By Ana Monteiro and Mpho Hlakudi)
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