{"id":8513,"date":"2012-03-02T14:49:16","date_gmt":"2012-03-02T12:49:16","guid":{"rendered":"http:\/\/www.myza.co.za\/03\/implats-strike-costs-120000-oz-2-4-billion-rand\/"},"modified":"2012-03-02T14:49:16","modified_gmt":"2012-03-02T12:49:16","slug":"implats-strike-costs-120000-oz-2-4-billion-rand","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/implats-strike-costs-120000-oz-2-4-billion-rand\/","title":{"rendered":"Implats strike costs 120,000 oz, 2.4 billion rand"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p><span class=\"articleLocation\">JOHANNESBURG, March 2<\/span> (Reuters) &#8211; Impala Platinum<br \/>\n said that a crippling illegal strike at its key<br \/>\nRustenburg operation has now cost it 120,000 ounces in lost<br \/>\nplatinum group metals production, which equates to 2.4 billion<br \/>\nrand ($322 million) in lost revenue.<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>Johan Theron, a senior executive at Implats, also told<br \/>\nReuters on Friday that the operation was still set to reboot<br \/>\nnext week as almost 15,000 mineworkers have been rehired, but it<br \/>\nremained unclear when full production would resume.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;I don&#8217;t know how long it will take to get back to steady<br \/>\nstate production,&#8221; Theron said.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;Our intention is to open all shafts but we will not be<br \/>\nputting people back in all areas. Our focus is to get the<br \/>\nproductive areas up and running first and evaluate the restart<br \/>\nof the more marginal areas later,&#8221; he said.<\/p>\n<p><span><\/span><\/p>\n<p>Implats&#8217; Rustenburg operation is the world&#8217;s largest<br \/>\nplatinum mine and the initial output target for this financial<br \/>\nyear was around 915,000 ounces.<\/p>\n<p><span><\/span><\/p>\n<p>What started as a dispute over bonuses awarded to only part<br \/>\nof the workforce ended as a battle for union membership between<br \/>\nthe National Union of Mineworkers and a smaller rival, the<br \/>\nAssociation of Mineworkers and Construction Union.<\/p>\n<p><span><\/span><\/p>\n<p>Thee people have died during the strike.<\/p>\n<p><span><\/span><\/p>\n<p>The company originally dismissed 17,200 workers for<br \/>\nparticipating in the illegal strike which lasted for around six<br \/>\nweeks, and has said it can only now rehire 15,200 because of<br \/>\nlost operational capacity.<\/p>\n<p><span><\/span><\/p>\n<p>Implats is the world&#8217;s second largest platinum producer and<br \/>\naccounts for about 25 percent of global supply of the precious<br \/>\nmetal. The Rustenburg stoppage is a key reason behind a spike of<br \/>\nmore than 20 percent in the platinum price in the year to<br \/>\ndate.<br \/>\n($1 = 7.4609 South African rand)\t<\/p>\n<p> (Reporting By Sherilee Lakmidas, editing by Ed Stoddard and<br \/>\nAnthony Barker)<\/p>\n<p><span><\/span><\/p>\n<p class=\"copyright\">\n<p>         \t\t\u00a9 Thomson Reuters 2012 All rights reserved<\/p>\n","protected":false},"excerpt":{"rendered":"<p>JOHANNESBURG, March 2 (Reuters) &#8211; Impala Platinum said that a crippling illegal strike at its key Rustenburg operation has now cost it 120,000 ounces in lost platinum group metals production, which equates to 2.4 billion rand ($322 million) in lost revenue. Johan Theron, a senior executive at Implats, also told Reuters on Friday that the [&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-8513","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\/8513","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=8513"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/8513\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=8513"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=8513"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=8513"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}