South African mid-tier platinum group metal (PGM) producer Northam Platinum said that drilling operations at its Zondereinde mine resumed Tuesday morning (April 23) following an agreement between the company management and the striking National Union of Mineworkers (NUM). The Zondereinde mine was hit by an unlawful work stoppage, which started on April 2. Under the deal, workers will receive a one-off payment equal to 50% of their basic salary for the duration of the strike and an additional payment of ZAR 2,000.
Northam said it lost output of 16,000 ounces of metal in concentrate (3PGM+Au) valued at about ZAR 192mn (EUR 16mn) due to the strike.
On its half-year report in February, Northam said that its Zondereinde mine had experienced a sustained operational recovery during the six months to end-December 2012, as it was not affected by the widespread illegal strikes, which plagued the industry last year.
Northam wholly owns and operates the Zondereinde platinum mine and metallurgical complex on the upper end of the western limb of the South African Bushveld Complex, which produces some 300,000 ounces annually. Its second mine Booysendal, is at an advanced stage of development and construction, and is scheduled to be commissioned by mid-2013. It is expected to produce approximately 160,000 ounces annually.
Related Articles
Kenya, South Korea sign MoU on nuclear research reactor project at IAEA conference in Vienna
Kenya and South Korea have agreed to deepen cooperation on nuclear research and development, signing a memorandum of understanding focused on the Kenya Nuclear Research Reactor (KNRR) project at ... more
South African holding Naspers' 5-for-1 share split takes effect October 6, targeting wider retail base on JSE
Naspers, a South African multinational holding company and technology investor listed on the JSE, will implement a five-for-one share split in October, reducing the nominal price of its stock to make ... more
Ghana recovers $820,000 in salary paid to public service "ghost workers"
Ghana’s Auditor-General has clawed back GHS10mn ($820,000) in unearned salaries from public servants who continued to draw pay long after leaving their jobs, in a crackdown on “ghost workers” ... more
Most Read
-
Renewable capacity growth is faster than ever, but more acceleration needed to meet Paris 2030 goal, says IEA
1 year ago
-
Kyrgyzstan abandons attempt to rescue Russian climber trapped on icy summit of country’s highest mountain
23 days ago
-
BERTRAND: China after Communism, preparing for a post-CCP China
1 month ago
-
Hungarian economy faces weak growth, slow path to price stability, central bank report shows
2 months ago
-
UKRAINE REMONT: The battle to build: signs of recovery in Ukraine's construction industry
5 months ago