Sibanye braces for the Amcu backlash as jobs evaporate

Business

Sibanye braces for the Amcu backlash as jobs evaporate

Union is sure to regard the wage offer and the restructuring announcement as two slaps in the face

Allan Seccombe

The timing of Sibanye-Stillwater (https://www.sharenet.co.za/v3/quickshare.php?scode=SGL)’s restructuring of the former Lonmin assets now under its control is intriguing.

There are a number of moving parts to consider. Possibly the one most likely to create friction is the wage talks under way with the Association of Mineworkers and Construction Union (Amcu).

It has already started poorly, with Amcu sharply critical of Sibanye because of the salary increases offered at the Lonmin assets (now called Marikana by its new owner)...

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