Implats struggles with R177m strike fallout 15th November 2004

The strike that hit Implats' Rustenburg site in October resulted in a net loss of more than R177 million, according to new data from the company.

In a statement from the firm's management it was revealed that the ten-day stoppage saw 44,305 ounces of platinum lost, with the company now seeking to redress the deficit.

Implats says it will aim to make up some of the shortfall by working on weekends and public holidays, although estimates for potential year losses have so far proved difficult.

Implats chief executive Keith Rumble told Mineweb: "While we have indicated a cost to the company of R28 million in gross profit per day, this does not take into account the reduced costs during this period, that some production has taken place at the refineries and that lost production may well be made up."

Action at the Rustenburg site started at the end of September, with more than 17,000 of employees at the platinum miner striking over pay.

Implats generates more than 1 million ounces from its Rustenburg plant, accounting for around half of the company's total platinum output.


ADNFCR-8000075-ID-19142899-ADNFCR© Adfero Ltd



Related articles