Sunday, August 14, 2016

Social challenges need to be addressed – AMCU

August 31, 2012 by · Leave a Comment 

The core issues of what led to the Marikana killings two weeks ago should be dealt with before a peace accord is signed, the Association of Mineworkers and Construction Union (AMCU) president Joseph Mathunjwa said on Friday.

Following the death of 34 two weeks ago during a clash with the South African Police Service (SAPS) at the Lonmin Marikana mine, near Rustenburg, the government, unions and mining company called for a peace accord.

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SA shocked by move to charge miners with massacre

August 31, 2012 by · Leave a Comment 

South Africa’s justice minister on Friday rebuked prosecutors for charging 270 miners with the murder of 34 striking colleagues shot dead by police, saying the decision had caused "shock, panic and confusion" among the general public.

The police killing of the strikers at the Marikana mine this month was one of the worst such incidents since the end of white rule in 1994. The arrested miners have been charged under a law dating from the apartheid era under which they are deemed to have had a "common purpose" in the murder of their co-workers.

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Activist fund calls for Xstrata board shakeup if bid fails

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Activist fund Knight Vinke on Friday became the first leading shareholder in Xstrata to publicly question the future of the miner’s board if a proposed $31-billion bid from trader Glencore collapses at a vote next week.

Several shareholders have already questioned privately whether the members of Xstrata’s board should continue if the planned merger gets shelved, criticising what they say was a failure to protect the interests of investors other than 34% holder Glencore. One shareholder said last week he wanted "wholesale changes".

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Despite China slowdown, Australia miners bet on Africa

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Australian miners are betting that Africa will be the next frontier for iron-ore, as they look beyond a fall this week in the price of the steel-making ingredient to its lowest level in nearly three years, battered by cooling Chinese demand.

African countries could eventually rival Pilbara, Australia’s main iron-ore mining region and producer of about half of the world’s seaborne iron-ore supply, mining executives gathered at a meeting in Perth said on Friday.

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Illegal strike hits Gold Fields KDC mine

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About 12 000 employees of the East section of the KDC on South Africa’s West Rand have downed tools in an “unlawful and unprotected strike”, JSE-listed mining group Gold Fields said on Friday.

To date, two night shifts and two-day shifts had been lost. Gold Fields South Africa executive VP Peter Turner said the strike appeared to be related to disagreements within organised labour and related structures on the mine, although this could not be confirmed at this stage.

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Xstrata investor calls for board shakeup if Glencore bid fails

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Activist fund Knight Vinke, a top shareholder in Xstrata, said on Friday it would push for a shake-up of the miner’s management if a proposed $31-billion bid from commodities trader Glencore collapses at a vote next week.

Knight Vinke – which owns 0.5% of Xstrata according to Reuters data, placing it among the 20 largest institutional investors, excluding Glencore – also confirmed it would vote against the all-share bid unless terms are "materially improved".

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Platinum funds set for inflow after Marikana deaths

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Platinum-backed exchange-traded funds are set for their biggest one-month inflow in 18 months in August after deadly violence at a mine in South Africa, source of four out of five ounces of the white metal, fuelled fears of supply constraints.

Production at the Marikana platinum mine, operated by number three producer Lonmin, remains suspended two weeks after clashes between unions led to the death of 44 people, including 34 striking miners shot dead by police.

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Marikana court case should run its course – Shabangu

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South African Minerals and Resources Minister Susan Shabangu has called on foreign investors to allow the country’s legal system to run its course, as 270 Lonmin workers were charged with the murder of their co-workers at the Marikana platinum mine.

The National Prosecuting Authority (NPA) has revealed that the workers arrested after the August 16 violent outbreak at Marikana, would be charged with the murder of their 34 colleagues under the common purpose law.

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Cape Lambert takes stake in OGL

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Resources developer Cape Lambert has taken a 15.2% stake in fellow listed OGL Resources, becoming a cornerstone investor in the emerging coal producer.

Cape Lambert has subscribed for one-million OGL notes, equating to a total investment of A$1-million.

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St Barbara/Allied merger gets court nod

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The high Court of Justice in England and Wales has approved the merger between gold miner St Barbara and Allied Gold.

Under the terms of the offer, St Barbara would acquire the entire issued capital of Allied Gold for A$1.025 in cash and 0.8 shares for every Allied Gold share held. The cash component of the offer would be funded through an existing A$120-million term loan facility provided by National Australia Bank and Barclays Bank.

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