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South African Union Calls on Aquarius to Reopen Everest Mine (2)

July 9 (Bloomberg) -- Aquarius Platinum Ltd., the fourth- largest producer of the metal, could have worked with employees to prevent the closure of the Everest mine in South Africa and should restart it, the dominant union at the site said.
The Association of Mining and Construction Union has called a meeting with Aquarius and contract miner Murray & Roberts Cementation for tomorrow to discuss the future of Everest workers, AMCU President Joseph Mathunjwa said in Johannesburg. The union is willing to study with management options to make the mine profitable, he said.
Aquarius, the worst performer among 610 stocks on London’s FTSE All-Share Index this year, shut Everest on June 21, citing poor ground conditions, labor issues and low prices. Platinum has dropped 16 percent from the 2012 high in February, while wage and power costs are running ahead of inflation in South Africa, source of three-quarters of global output.
Aquarius failed to follow all labor law procedures for a mine closure, Mathunjwa said. It didn’t set up a so-called future forum to provide laid-off workers with alternative skills, he said.
“Aquarius complied with all applicable legislation with regard to the closure of the Everest mine, and continues to do so,” Gavin Mackay, a spokesman for the platinum producer, said in an e-mailed response to questions.
Displacing NUM
AMCU became the largest union at Everest, northeast of Johannesburg, late last year after a two-week strike, Mathunjwa said. The union also claims it has displaced the National Union of Mineworkers in having the most members at Impala Platinum Holdings Ltd.’s Rustenburg mine, the world’s largest platinum mine. Union rivalry, coupled with a wage grievance, prompted a six-week stoppage at the mine early this year.
AMCU had submitted demands, including the removal of the lowest-paid category ahead of salary negotiations at Everest, Mathunjwa said. The mine closure prevented wage talks from starting, he said.
AMCU would consider legal action to regain employment for its members, Mathunjwa said.
Aquarius fell 9.8 percent to 41.59 pence at the 4:30 p.m. close in London, bringing its decline in the past 12 months to 87 percent.
To contact the reporter on this story: Carli Cooke in Johannesburg at
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To contact the editor responsible for this story: John Viljoen at
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