{"id":14749,"date":"2012-09-18T16:39:23","date_gmt":"2012-09-18T14:39:23","guid":{"rendered":"http:\/\/www.myza.co.za\/09\/update-1-gold-fields-says-will-not-entertain-wage-demands\/"},"modified":"2012-09-18T16:39:23","modified_gmt":"2012-09-18T14:39:23","slug":"update-1-gold-fields-says-will-not-entertain-wage-demands","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/update-1-gold-fields-says-will-not-entertain-wage-demands\/","title":{"rendered":"UPDATE 1-Gold Fields says will not entertain wage demands"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p>* Gold Fields CEO says demands will not be entertained<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>* CEO says demand would put mines out of business<\/p>\n<p><span><\/span><\/p>\n<p><span class=\"articleLocation\">JOHANNESBURG, Sept 18<\/span> (Reuters) &#8211; Gold Fields is<br \/>\nnot willing to consider South African strikers&#8217; demands for a<br \/>\nminimum wage of 12,500 rand ($1,500) a month, the chief<br \/>\nexecutive of the world&#8217;s fourth largest producer said on<br \/>\nTuesday.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;Clearly at this stage, we will not entertain any of that.<br \/>\nWe have a two year wage deal that expires on the 30th of June<br \/>\nnext year, and as far as I am concerned, that&#8217;s it,&#8221; Nick<br \/>\nHolland told Reuters Insider on Tuesday.<\/p>\n<p><span><\/span><\/p>\n<p>Gold Fields&#8217; KDC West operations in South Africa have been<br \/>\nhalted by an illegal strike by 15,000 workers for over a week,<br \/>\npart of a wave of wildcat action roiling the industry that has<br \/>\nseen 45 people killed in labour violence around mines operated<br \/>\nby platinum producer Lonmin .<\/p>\n<p><span><\/span><\/p>\n<p>Holland said Gold Fields might be able to afford higher<br \/>\nwages but there was a limit after several years of<br \/>\nabove-inflation pay rises combined with soaring costs on other<br \/>\nfronts such as power rates.<\/p>\n<p><span><\/span><\/p>\n<p>Meeting the minimum wage demand of 12,500 rand would &#8220;put us<br \/>\nout of business. It would triple the entry wage and more than<br \/>\ndouble our wages,&#8221; he said.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;Wages in South Africa make up about 55 percent of your<br \/>\ncosts. So it just puts you out of business.&#8221;<\/p>\n<p><span><\/span><\/p>\n<p>Holland also said the demands were unrealistic because they<br \/>\nincluded an exemption from paying taxes on bonuses.<br \/>\n\u00a0 <span class=\"label\"><strong>Continued&#8230;<\/strong><\/span><\/p>\n<p><span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>* Gold Fields CEO says demands will not be entertained * CEO says demand would put mines out of business JOHANNESBURG, Sept 18 (Reuters) &#8211; Gold Fields is not willing to consider South African strikers&#8217; demands for a minimum wage of 12,500 rand ($1,500) a month, the chief executive of the world&#8217;s fourth largest producer [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[830,2370,183],"class_list":{"0":"post-14749","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-south-africa","7":"tag-news","8":"tag-reuters","9":"tag-south-africa-2","10":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/14749","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=14749"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/14749\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=14749"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=14749"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=14749"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}