Impala Platinum and Amcu negotiate to prevent Rustenburg strike
The strike action, initially slated for June 6, 2025, would have affected the company's Rustenburg operations. In a notice to strike served on Implats, Amcu informed Implats 'of the protected strike action' that will take place across all the Impala Platinum Limited Operations.
'The strike will commence on Friday, 06 June 2025, starting with the afternoon shift as well as all other shifts thereafter. All AMCU members working at Impala Rustenburg across all your Impala Rustenburg Operations will participate in this protected strike action. The last shift will report on duty on Friday, 06 June 2025 (morning shift),' Amcu had said in the notice to strike.
However, in an internal note, Implats Rustenburg CEO, Moses Motlhageng, had noted that the 'strike is unprotected as it is prohibited by the wage agreement' while the company had also mulled an application to the Labour Court for a declaration interdicting employees from participating in the strike.
Implats then scrapped an agreement with Amcu for the suspension of the strike. In emailed responses to Business Report, Johan Theron, spokesperson for Implats, said the company has 'been and remain in ongoing engagement with Amcu in order to secure a mutually beneficial' outcome to the dispute".
He said that the company was confident that a strike action would be averted and the inevitable harm and further complications brought about such a labourforce action would be avoided.
On Thursday, in an afternoon notice to members, Molete Thoane, Amcu's regional secretary said 'the strike has been suspended pending negotiations' between the two parties.
At the center of the disagreement is the 'mutual dispute on the Employee Share Ownership Trust (ESOT) as per the CCMA Certificate' under case number NWRB 385-25.
Amcu had undertaken availability for negotiation during the 48 hour strike notice period. This enabled Implats and Amcu to agree on suspension of the strike action.
Implats has established an employee share ownership trust that is geared to benefit about 32 000 employees under Impala Platinum Limited.
Implats chief financial officer Brenda Berlin was quoted by Mining Weekly early this year saying the trust had already subscribed for about 4% of the company's share capital.
'This transaction provides a meaningful way of aligning lower-category employees' interests with the future profitability of Impala and is viewed by the Implats board as a positive intervention to keep employees motivated and sustain good labour relations.'
BUSINESS REPORT
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
IOL News
04-08-2025
- IOL News
Impala Platinum Holdings reports a 2% decline in sales volumes for the year ending June 30
At the rockface at an Impala Platinum Mine in Rustenburg. Implats production fell 2% in the year to June, according to the latest production report. Image: Supplied Impala Platinum Holdings' sales volumes fell by 2% to 3.37 million ounces, including saleable production from Impala Canada and Impala Bafokeng, in the year to June 30, the mining and metal processing group said in a production report on Monday. The report, released ahead of the financial results on August 28, said US dollar commodity pricing strengthened in the year, the impact of which was offset by rand appreciation. As a result, group sales revenue was stable at R25 170 per 6E (6 elements of platinum) ounce sold. The share price fell 1.9% to R172.02 on the JSE Monday afternoon, a price that was still more than double the R83.01 it traded at a year before. Implats directors said a 'commendable performance' had been delivered across its mining and processing assets. Unit costs benefitted from easing input inflation and rand appreciation but faced headwinds from lower production volumes. Capital expenditure fell as projects were completed. The net cash position improved. Gross group 6E production decreased by 3% to 3.55 million 6E ounces. Production from managed operations declined by 4% to 2.80 million 6E ounces: Stock-adjusted production at Impala Rustenburg decreased by 1% to 1.28 million 6E ounces. Impala Bafokeng saw stable production of 481 300 6E ounces in concentrate, with the benefit of improved efficiencies at Styldrift offset by safety stoppages. Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Next Stay Close ✕ Ad Loading Performance at Marula was challenged by constrained mining flexibility and organisational restructuring. 6E concentrate production fell 10% to 201 900 ounces. 6E production at Zimplats decreased by 6% to 606 300 ounces, due primarily to poor fleet performance and compounded by the lock-up of concentrates during the commissioning of the expanded smelter complex. At Impala Canada, 6E concentrate volumes were 15% lower at 237 400 ounces, reflecting the operation's revised operating parameters and lower underground grade. Production from joint ventures ("JVs") fell 1% to 542 400 6E ounces: Two Rivers reported a 1% decrease in concentrate production to 288 500 ounces, with improved operational delivery at the UG2 operations offset by inclement weather and safety stoppages. At Mimosa, 6E in concentrate volumes retraced by 1% to 253 900 ounces as operating momentum was impeded by intermittent regional power disruptions. Refined 6E production was stable at 3.37 million 6E ounces. Processing capacity was impeded by required maintenance at South African smelters, while the base and precious metals refineries faced interruptions to both water and hydrogen supply. Visit:
IOL News
01-07-2025
- IOL News
Impala Platinum consolidates operations to secure long-term profitability
Rock face operations at an Impala Platinum Mine in Rustenburg. Impala Platinum Holdings is consolidating two subsidiaries, Impala Bafokeng Resources and Impala Platinum Image: File Photo Impala Platinum Holdings (Implats) is merging the operations of two subsidiaries, Impala Bafokeng Resources (IBR) and Impala Platinum, due to the low prevailing rand platinum group metal (PGM) pricing. In a statement on Tuesday, Implats said the move was also necessary to secure the long-term sustainability of both Impala and IBR. Meanwhile, market analysts believe PGM prices should improve in the second half of this year. 'This consolidation will align the legal structure with current reporting lines in place and facilitate and progress the realisation of synergies between the two operations,' Implats directors said. It was expected that, over time, the consolidation will improve profitability and ensure the sustainability of the combined operations, 'which shall be ongoing and continuous,' they said. There was no cash consideration attributable to the consolidation, nor would Implats shareholders, or shareholders of Impala or IBR change due to the consolidation. The change also did not involve any related parties to the Implats group, the statement said. In terms of the actual transaction, Impala and IBR entered into an agreement for IBR to transfer its entire business comprising the exploration, development, and mining of PGMs and activities, including all its assets and liabilities, to Impala as a going concern, after IBR and other Implats companies had implemented certain re-organisational steps relating to the businesses prior to the consolidation. An online search shows IBR operates two active mines — Bafokeng Rasimone Platinum Mine (BRPM) and Styldrift Mine — and two concentrators that process ore. It has a site under care and maintenance, the Maseve Mine, which was acquired in 2018. Impala Platinum's existing operations include Impala Rustenburg, Marula Platinum, Zimplats, and Impala Canada. Implats' share price gained 1.2% to R160.84 Tuesday afternoon, adding to the gains of more than 85% in the mining group's share price over a year. Meanwhile, Mining Weekly reported on Monday that refinery services provider Heraeus had found in its latest precious metals appraisal that the platinum price, which averages $1,341/oz, will likely correct over the second half of the year, based on rising demand from China, and the South African PGM basket was currently more than 30% higher than at the start of the year, in dollar terms. 'For high-cost producers, this will ease pressure on profit margins which have been eroded over the past 18 months as PGM prices have fallen and production costs have risen.' Platinum prices had risen to an 11-year high last week, the specialist mining publication reported. Visit:
IOL News
01-07-2025
- IOL News
Impala Platinum and Impala Bafokeng Resources to consolidate operations
Impala Platinum Limited (Impala) and Impala Bafokeng Resources Proprietary Limited (IBR), two key subsidiaries of Implats, have agreed to consolidate their operations. Impala Platinum Limited (Impala) and Impala Bafokeng Resources Proprietary Limited (IBR), two key subsidiaries of Implats in response to low prevailing rand platinum group metal pricing have agreed to consolidate their operations. "This consolidation will align the legal structure with current reporting lines in place, and facilitate and progress the realisation of synergies between the two operations," Implats said in a statement. It is expected that, over time, the consolidation will improve profitability and ensure the sustainability of the combined operations, which shall be ongoing and continuous. Implats said there is no cash consideration attributable to the consolidation, nor will the shareholders of Implats, Impala or IBR change due to the consolidation. The consolidation also does not involve any related parties to the Implats group. The consolidation will see Impala and IBR enter into an agreement in terms of which IBR will transfer its entire business (comprising the exploration, development and mining of PGMs and activities related thereto) including all its assets and liabilities to Impala as a going concern. The transaction will be executed in accordance with the tax rollover provisions as provided for in the Income Tax Act, 1962 (Agreement), after IBR and other companies of the Implats group have implemented certain reorganisational steps relating to the businesses prior to the consolidation. The effective date of the consolidation agreement is set for July 1, 2025, marking the beginning of a new phase for both companies.
