INVESTORS AND MEDIA Media releases
Johannesburg, 1 December 2018: Gold Fields Limited (Gold Fields) (JSE, NYSE: GFI) is disappointed that the South Deep branch of the National Union of Mineworkers (NUM) has decided not to call off the four-week-old strike at the mine.
Regrettably, the proposed settlement offer, jointly developed with the NUM national, regional and branch structures last week, expired at 5pm yesterday. The offer would, among other things, have increased severance payments and enhanced portable skills training opportunities for retrenched employees and extended the period over which wages lost by striking employees would be forfeited.
The NUM branch commenced its strike action on 2 November 2018 to protest retrenchments at the mine. There has been no production at the mine since then and the operation is losing some R6m per day. The NUM members on strike are not being paid and have lost approximately R80m in wages and other earnings over this period.
Management has received overwhelming responses from employees not supporting the strike and wanting to return to work. However, they fear the intimidation and threats emanating from the small group of strike leaders.
“However long the strike continues, it cannot and will not lead to changes in the restructuring plans, including the 1,082 retrenchments, that are necessary for South Deep’s long-term sustainability and saving the remaining 3,500 jobs. Should the strike continue for an extended period of time though, it could potentially place more jobs at risk,” said Gold Fields CEO Nick Holland.
“Our immediate focus now needs to be on getting our employees safely back to work and securing their jobs, building our future together and supporting the communities that host us,” Holland added.
Tel: +27 11 562-9763
Mobile: +27 83 260 9279
Email : Sven.Lunsche@goldfields.com
Tel: +27 11 562-9775
Mobile: +27 82 312 8692
Email : Avishkar.Nagaser@goldfields.com
Tel: +27 11 562 9849
Mobile: +27 72 493 5170