Today's Labour News

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cosatuBloomberg reports that the Congress of South African Trade Unions (Cosatu) indicated on Tuesday that it welcomed Anglo American’s commitment to South Africa.

This after the company unveiled a strategy to exit diamond and platinum businesses as part of a strategy to fend off a £34 billion takeover approach from rival BHP Group. The labour federation, which previously said it opposed BHP’s bid, said it expected Anglo to undertake not to fire workers as it restructured. BHP had demanded Anglo spin off its South African platinum and iron-ore units as a condition of the offer. “We need a commitment that whatever changes Anglo plans include the needs of its loyal employees. Anglo’s professed commitment to South Africa is welcome,” Cosatu said in a response to queries.

  • Read the original of the short report in the above regard by Antony Sguazzin at Moneyweb

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