De Beers upbeat talks with union will avert strike at Venetia
National Union of Mineworkers demands a 9% pay hike while the company can only offer 6%
08 September 2023 - 10:51
byNelson Banya
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A De Beers sorting operation. Picture: BLOOMBERG/SIMON DAWSON
Anglo American’s De Beers is confident ongoing talks with the National Union of Mineworkers (NUM) will avert a wage strike at Venetia, SA’s largest diamond mine, the company said on Friday.
On Tuesday, NUM, the biggest mineworkers' union, said it was planning a strike at Venetia, as De Beers could only offer a 6% pay increase against demands for a 9% hike.
The strike by NUM’s 1,500 workers would affect operations at Venetia’s new $2.3bn underground operations, which started production in July. De Beers stopped its 30-year open pit operations at Venetia in December 2022.
In a statement, De Beers said it held a meeting with NUM representatives on September 6, facilitated by the Commission for Conciliation, Mediation and Arbitration (CCMA), a statutory body that mediates labour disputes.
“We are confident that through continued engagement with the union and our employees we will reach a sustainable settlement with NUM,” De Beers said.
The miner said the diamond industry is facing “challenging market conditions” affecting its business.
NUM was not immediately available for comment.
De Beers said it was pursuing a five-year wage deal with workers to provide operational certainty amid the transition to underground mining which targets annual production of 4- million carats, the equivalent of 12% of the group’s forecast output for 2023.
Support our award-winning journalism. The Premium package (digital only) is R30 for the first month and thereafter you pay R129 p/m now ad-free for all subscribers.
De Beers upbeat talks with union will avert strike at Venetia
National Union of Mineworkers demands a 9% pay hike while the company can only offer 6%
Anglo American’s De Beers is confident ongoing talks with the National Union of Mineworkers (NUM) will avert a wage strike at Venetia, SA’s largest diamond mine, the company said on Friday.
On Tuesday, NUM, the biggest mineworkers' union, said it was planning a strike at Venetia, as De Beers could only offer a 6% pay increase against demands for a 9% hike.
The strike by NUM’s 1,500 workers would affect operations at Venetia’s new $2.3bn underground operations, which started production in July. De Beers stopped its 30-year open pit operations at Venetia in December 2022.
In a statement, De Beers said it held a meeting with NUM representatives on September 6, facilitated by the Commission for Conciliation, Mediation and Arbitration (CCMA), a statutory body that mediates labour disputes.
“We are confident that through continued engagement with the union and our employees we will reach a sustainable settlement with NUM,” De Beers said.
The miner said the diamond industry is facing “challenging market conditions” affecting its business.
NUM was not immediately available for comment.
De Beers said it was pursuing a five-year wage deal with workers to provide operational certainty amid the transition to underground mining which targets annual production of 4- million carats, the equivalent of 12% of the group’s forecast output for 2023.
Reuters
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