Workers at the Anglo American German Creek coal mine in central Queensland are continuing a long strike against a new union agreement (EBA) aimed at cutting wages and basic conditions. Throughout the negotiations, the company rejected calls to maintain current wage rates, signaling pressure for direct wage cuts. By deliberately delaying a new deal, the company has already effectively imposed a wage freeze of more than two years. According to reports WSWS.org, 140 workers at the Anglo American German Creek coal mine in Australia remain on strike over their union contract (EBA), which expired in April 2014 and has been in negotiations ever since. The 140 workers resigned on 22 August after the failure of the EBA negotiations. The Construction, Mining, Mining and Energy Union (CFMEU) had conducted 16 negotiations with the company since the old agreement expired in early April 2014. The company threatened to cut jobs if the strikers stuck to their demands. An Anglo spokesman said late last month: “We strongly believe that further wage increases and additional costs during this current round of negotiations on company agreements would be irresponsible and potentially jeopardise job security for all employees. As a responsible producer of diamonds (by De Beers), copper, platinum group metals, iron ore and metallurgical steel coal and nickel – with the developing plant nutrients and thermal coal plants expected to be divested – we are committed to being carbon neutral in all our operations by 2040.
We work with our business partners and various stakeholders to unlock sustainable value from valuable natural resources for the benefit of the communities and countries in which we operate, for society as a whole and for our shareholders. Anglo American is reshaping mining to improve people`s lives. www.angloamerican.com Draconian legislation also prohibits any solidarity action by workers of other companies under the threat of heavy fines and penalties. These anti-strike provisions were introduced in 2009 by the previous Labour government with the full support of the trade unions, including the CFMEU, as a means of suppressing working class resistance. At the end of the spin-off and at the time of Thungela`s listing, 100% of Thungela`s issued share capital will be held by Anglo American shareholders, who have each received one Thungela share for every ten Anglo American shares they hold. Each Anglo American shareholder will also retain their existing stake in Anglo American. Thungela owns 90% of the thermal coal operations in South Africa, with the remaining 10% held together through an employee partnership plan and a community partnership plan. Anglo American focuses on natural resources with six main businesses: Kumba Iron Ore, Iron Ore Brazil, coal (thermal and metallurgical), base metals (copper, nickel, niobium and phosphates), platinum and diamonds through De Beers, in which it holds an 85% stake. [53] [54] In 2008, the company employed 105,000 permanent employees and 39,000 contract employees in 45 countries.
[55] The strike forced management to reduce production from mid-August of the project`s underground operation, which produces about 6 million tons of high-quality coal coal per year for export for steel production. Anglo American plc (“Anglo American”) announces the completion of the separation of its thermal coal business in South Africa. Thungela Resources Limited (“Thungela”) will commence trading as of today through a primary listing on the Johannesburg Stock Exchange under the abbreviated name “Thungela” (alpha code “TGA”) and a standard listing on the London Stock Exchange (ticker symbol “TGA”). As South Africa`s leading exporter of thermal coal, Thungela offers investors access to a high-quality thermal coal company with low cash costs and high-margin assets and a strong balance sheet supported by a robust ESG framework. Forward-Looking Statements: This news release contains forward-looking statements. All statements contained in this press release that are not historical facts, including, but not limited to, statements regarding Anglo American`s financial condition, operations, acquisition and divestiture strategy, dividend policy, management`s plans and objectives for future operations (including development plans and objectives with respect to Anglo American`s products, production forecasts and estimates of ore reserves and mineral resources) and the Environmental, Corporate and Corporate Governance Objectives and Efforts are forward-looking statements. These forward-looking statements inherently involve known and unknown risks, uncertainties and other factors that may cause Anglo American`s actual results, performance or achievements or industry results to differ materially from future results, performance or achievements expressed or implied by such forward-looking statements. The securities to which these documents relate have not been and will not be registered under the U.S. Securities Act of 1933 (the “U.S. Securities Act”) or under the securities laws of any state or other jurisdiction of the United States. Accordingly, they may not be offered, sold, resold, delivered, distributed, or otherwise transferred, directly or indirectly, to the United States unless they are registered under the U.S.
Securities Act or any exception thereto. Anglo American`s intransigence on German Creek stems from a directive issued by CHIEF Executive Mark Cutifani when he announced the restructuring. “Nickel, coal and iron ore assets must be competitive and demonstrate their ability to influence the cost curve, with the ability to provide liquidity throughout the cycle,” he warned. “Otherwise, they won`t be in the wallet, it`s as simple as that.” Anglo American reported total CO2 equivalent emissions (direct + indirect) for December 31, 2020 at 16,080 kt (-1,660 / -9.4% year-on-year). [66] They decided to take protracted collective action, but tensions began to erupt after it emerged that Anglo American was announcing excavator drivers through the temporary labor agency WorkPac to replace its striking workforce. On the 24th. In May 1999, Anglo American Corporation merged with Minorco to form Anglo American plc with an IPO on the London Stock Exchange and a secondary listing on the Johannesburg Stock Exchange. [12] The gold mining operations were split into AngloGold Corporation, which merged with Ashanti Goldfields Corporation to form AngloGold Ashanti in 2004. Anglo American reduced its stake in AngloGold Ashanti to 16.6% in 2008. [13] However, Anglo can only make such preparations because the CFMEU worked to isolate the strike. It has refused to organize industrial action in support of the strikers of its members in the coal industry, who are facing similar attacks.
In March 2017, British Indian industrialist Anil Agarwal bought 11% of the company through his family trust Volcan. [43] In September, it increased the stake to 20% thanks to another purchase worth about $1.5 billion. [44] In April 2017, the company sold its Eskom-related thermal coal business in South Africa for $166 million, a significant step in the mining giant`s strategic overhaul to focus more on three commodities. [45] The working class must have a political voice that seeks to stifle the Australian ruling class with this legislation. In 2002, the South African Mining Charter was approved[17] and Anglo American and other mining companies operating in the country were tasked with transferring a percentage of their South African production to historically disadvantaged South Africans. [18] From 2002 to July 2008, Anglo American conducted transactions aimed at economically strengthening the black community (through all companies with branches in South Africa) for a total of R26 billion. [19] In addition, in 2002, Anglo Base Metals acquired the copper disputada business in Chile from ExxonMobil[20] and opened a representative office in Beijing, China. [21] In 2003, Anglo American acquired a majority stake in iron ore producer Kumba Resources.
[22] Thungela Resources, which means “ignite” in isiZulu, is a leading South African thermal coal company focused exclusively on thermal coal production. It is one of the largest producers and exporters of thermal coal in South Africa, based on aggregate coal reserves and marketable coal production. Thungela focuses on exporting its thermal coal portfolio mainly to India and other developing countries in South Asia. Last month, Anglo American also faced a week-long strike at its flagship Los Bronces copper mine in Chile. In April 2021, Anglo American announced the spin-off of Thungela Resources, which will hold a number of significant South African thermal coal assets.[50][51] [52] The dispute is taking place against a backdrop of increasing global stagnation and falling prices for coal and other commodities, due to weak economic growth in China and Asia. The response of mining companies in Australia and around the world has been to intensify the assault on jobs, wages and working conditions. Earlier this month, the CFMEU told the media that the company was trying to organize an alternative workforce to break the strike by hiring labor company Workpac to promote excavator operators and coldly call well-known coal mine workers. .