Africa, Business, invesment, Invesments, news, Uncategorized, World Bank, World Bank Group

Africa News January 20, 2014 at 02:00PM

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VENTURES AFRICA – Harmony Gold had received a strike notice from the Association of Mineworkers and Construction Union (AMCU), the JSE-listed gold miner confirmed on Monday.

However, the gold miner said it would resist the strike action, saying it will seek a court interdict to stop AMCU from embarking on the action on Thursday this week. The strike notice was received on Monday morning.

Harmony said on September 10 last year, a two-year salary increase contract was reached with other unions like NUM, UASA and Solidarity, which lead 72 percent of the workforce at Harmony.

The miner claimed that AMCU had taken part in those talks at the time. However, AMCU declined to agree to the new contract.

Harmony said the agreement applied to all workers regardless of trade union membership.

These wage raises gained were backdated to 1 July 2013 and AMCU members benefited from the outcome of the wage raises and bonuses that have been brought together by Harmony since then.

“We believe that we have reached an agreement that is fair to all and this belief is supported by the fact that all individual employees accepted the increases implemented without rejection,” Graham Briggs, CEO of Harmony, said.

From today on, all eyes in South Africa will be on financial markets, as investors want to see how strike actions in the platinum and gold sector would impact the markets.

 

 

 

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