Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Kumba’s Sishen Iron Ore Mine Production to Restart Oct. 19

Don't Miss Out —
Follow us on:

Oct. 17 (Bloomberg) -- Kumba Iron Ore Ltd. expects to restart production within days at its Sishen mine in South Africa after a two-week strike at the Anglo American Plc unit ended with police arrests.

“Production itself should start on Friday,” Gert Schoeman, a company spokesman, said today in a telephone interview. “Won’t be full production from day one but things are looking quite good at the moment.”

About 300 workers at Sishen downed tools on Oct. 3 to demand higher pay as wildcat stoppages spread from the platinum industry to gold, chrome and iron-ore. Police arrested more than 40 striking Kumba miners yesterday, after the company, which is losing 120,000 metric tons of production a day, brought criminal charges against the workers and recovered 3.3 billion rand ($376 million) of equipment.

Kumba rose to a three-week high in Johannesburg trading, climbing as much as 2.3 percent to 516.3 rand, the highest intraday level since Sept. 21. It was at 512.55 rand at 1:56 p.m. The benchmark FTSE/JSE Africa All Share Index was 0.8 percent higher.

“There is high police visibility, which does help to calm things down,” Schoeman said.

South African workers who go on strike without following resolution procedures laid down under labor laws lose legal protection and can risk dismissal.

To contact the reporter on this story: Paul Burkhardt in Johannesburg at pburkhardt@bloomberg.net

To contact the editor responsible for this story: John Viljoen at jviljoen@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.