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Daily podcast – October 20, 2009
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20th October 2009
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This podcast is brought to you by BMG - South Africa's finest source of quality engineering components and expertise.

Tuesday, October 20, 2009.

From Creamer Media in Johannesburg, I'm Shannon de Ryhove.

Making headlines today:

Protesting workers at African Rainbow Minerals' and Impala Platinum's joint venture Two Rivers mine have refused to stop an illegal sit-in, unless a manager is fired.

More than one hundred mineworkers had embarked on the illegal sit-in on Sunday evening, demanding that a manager at the mine, who allegedly fired four workers, be dismissed.

The workers had refused to leave the mine after their night shift ended at 06:00 am on Monday morning, halting production at the mine. A further 140 workers have since joined in the illegal sit-in.

National Union of Mineworkers spokesperson Lesiba Seshoka said that the union had spoken to the Two Rivers management to try to persuade them to suspend the manager, subject to a disciplinary hearing. However, he noted that they had refused.

The workers have said that they won't stop their protest until the manger was fired. Seshoka said that the union would try to make further interventions with the union members today.

Toronto-based Barrick Gold expects to save at least 50-million-dollars a year once it has completed planned changes to its organisational structure.

Following an internal review, the company has identified and plans to eliminate "areas of overlap" and will give more responsibility to its regional business units.

As a result, about 80 positions, mainly in Toronto, will be eliminated over the next six months.

CEO Aaron Regent says that the organizational review was initiated to look for ways in which it could improve how it managed the company and better positions it to maximize the value of its asset base and secure growth opportunities.

He said that, when these decisions are fully implemented, the company expects to achieve significant savings and its decision making and execution capabilities will be meaningfully enhanced.

Also making headlines:

Randgold Resources and Volta Resources sign a definitive agreement for the sale of the Kiaka project.
Peru's nationwide strike hits key mines.
The Xstrata-Merafe venture's third quarter output is down 20%.
And, the judge who will decide the fate of bankrupt US copper miner Asarco says he'll look at financial, environmental and labour issues in making a decision on which suitor will gain control of the company.

That's a round up of news making headlines today. For more on these and other stories please visit


Edited by: Shannon de Ryhove


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