Today's Labour News

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implatsFin24 reports that Impala Platinum (Implats) indicated on Wednesday that it would complete repairs at its Rustenburg 11 shaft during February and use the following weeks to ramp up to full production capacity during April.

The shaft was closed following a fatal accident in November that killed 13 people when a cage hoisting employees plunged down the shaft. Implats' mining crews at the shaft have been back at work since the second week of January following government approvals, while surplus labour has been deployed across the platinum group metals (PGM) producer’s mines in Rustenburg. The accident took fatalities at Implats' operations to 16 in its six months to end-December, from two in the prior comparable period, with the company describing the incident as "devastating". All mining operations at Implats' Rustenburg complex were suspended for a week following the accident, which occurred when cables hoisting the elevator snapped, plunging the container with 86 employees who had just finished their shift down hundreds of metres. Employees were given a further two days to attend ceremonies to mourn their lost colleagues. Implats lost about 60,000 ounces of PGMs owing to the tragic accident. Amid lower prices, it expects earnings to least be 20% lower than the R14 billion it reported in the year ended December 2022.

  • Read the full original of the report in the above regard by Sikonathi Mantshantsha at Fin24 (subscriber access only)
  • Read too, Implats warns of ‘at least’ 20% drop in interim profit on weak metal prices, at BusinessLive

Get other news reports at the SA Labour News home page