Anglo American Platinum anticipating negative impact from strikes

23rd Jan 2014 09:12

Anglo American Platinum (Amplats) said Thursday it expected production to be hit by the industrial action begun by a number of its workers at the Rustenburg, Union and Amandelbult operations following Monday's notification.However, Amplats, which is the world's largest platinum producer and majority-owned by FTSE 100 constituent Anglo American, revealed that the strike was only legal for AMCU-affiliated employees and not for NUM, NUMSA and UASA members. It said it would stick to its principle of "no work, no pay", and called on those striking to "respect their fellow colleagues' right to report to work". It also said it was working with law enforcement agencies to maintain peace and stability during the strike. Amplats Chief Chris Griffith issued a statement which read: "We are adamant that we will continue to engage with AMCU and have accepted the offer by the Deputy President for a government facilitated mediation process in order to find a resolution. Striking is not a constructive solution if we are to return the company to a sustainable financial footing and secure existing jobs."The statement also stressed that the company's Process operations and Mogalakwena mine were operating normally, and said safe shutdown procedures had been implemented throughout all affected operations.Anglo American's share price was up 0.33% at 09:50.NR