COMPANY COMMENT
A bruising battle looms between Sibanye and Amcu
Sibanye CEO Neal Froneman is a tough leader, who has had bitter run-ins with unions in the past, while Amcu president Joseph Mathunjwa is an equally hard man
The relationship the Association of Mineworkers and Construction Union (Amcu) has with Lonmin is very different from the one it has with Sibanye-Stillwater, which has gold and platinum mines in SA and elsewhere. Sibanye CEO Neal Froneman is a tough leader, who has had bitter run-ins with unions in the past, both during his time as CEO of Gold One at the newly built Modder East mine, and then later at Sibanye at the Cooke mines, most notably Cooke 4 Shaft. His counterpart, Amcu president Joseph Mathunjwa, is an equally hard man, having called a five-month strike in the platinum sector in 2014, which in part is to blame for the dire financial situation in which the world's third-largest platinum miner, Lonmin, now finds itself. Sibanye has stepped forward with an all-share offer to take over Lonmin, underpinning the security of about 20,000 jobs by melding the mines and processing plants into its Rustenburg mines it bought from Anglo American Platinum and snapping up the whole of Aqua...
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