NUM, AngloGold agree on Kopanang payouts

Johannesburg - The National Union of Mineworkers (NUM) and AngloGold Ashanti have reached an agreement in terms of which all workers at Kopanang mine in Klerksdorp, North West, will be paid their retrenchment packages before the company finalises the sale of the mine.

According to Joseph Montisetse, deputy president of the NUM, the parties agreed to pay off the workers before the sale, which is expected to be finalised soon.

Montisetse said the union had signed a memorandum of understanding with the mine in this regard.

“This is an achievement for NUM members and other workers because the union did not want to see a sad and painful experience like that which happened to Aurora workers,” he said.

“The payout will not be provident or pension, just retrenchment packages. We have agreed that workers will get their money before October 16,” he added.

AngloGold spokesperson Chris Nthite said the company would not be commenting further on the matter.

In an announcement earlier this month, the company said: “In terms of the memorandum of understanding, it has been agreed that the severance benefits due to all Kopanang employees will be paid out by AngloGold Ashanti on the closing of the potential sale.

“Should the potential sale not proceed, the severance benefits will be paid to employees on conclusion of the restructuring process that was announced on June 28, and the Kopanang mine will move to care and maintenance.”

SUBSCRIBE FOR FREE UPDATE: Get Fin24's top morning business news and opinions in your inbox.

Read Fin24's top stories trending on Twitter:

ZAR/USD
17.01
(-0.43)
ZAR/GBP
21.23
(-0.37)
ZAR/EUR
19.13
(-0.32)
ZAR/AUD
11.81
(-0.57)
ZAR/JPY
0.16
(-0.25)
Gold
1774.43
(-0.02)
Silver
18.05
(+0.69)
Platinum
807.99
(+0.14)
Brent Crude
42.92
(+2.64)
Palladium
1914.84
(+1.50)
All Share
54521.90
(-0.17)
Top 40
50179.89
(-0.26)
Financial 15
10150.02
(-0.64)
Industrial 25
76554.73
(+0.52)
Resource 10
50138.02
(-1.24)
All JSE data delayed by at least 15 minutes morningstar logo
Company Snapshot
Voting Booth
Please select an option Oops! Something went wrong, please try again later.
Results
I'm not really directly affected
18% - 1574 votes
I am taking a hit, but should be able to recover in the next year
23% - 2068 votes
My finances have been devastated
34% - 3083 votes
It's still too early to know what the full effect will be
25% - 2238 votes
Vote