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Mining Bosses and Shareholders Pocket Billions in Profit While Workers get Nothing

Mosware
By Mosware | self meida writer
Published 3 days ago - 34 views

The biggest platinum mining companies Anglo-American 's platinum division AMPLATS and Sibanye Stillwater, have made record breaking profits in their 2020 financial reports. Sibanye has reported more than R30 billion in profit, and it's shareholder will get dividends as a thank you, but poor mine workers will have to wait for a 6.5 to 7% wage increase in June. 

On the other hand Anglo Platinum will report its full-year results on Monday, noted that it had posted record earnings before interest, tax, depreciation and amortisation of R41.6bn, a 39% increase over the previous year. The company declared a final dividend of R35.35 a share, equivalent to R9.4bn or 40% of headline earnings. 

What about the poor Rockdrill operators and shaft Timbermen, who are the forefront of this Billion Rands. They risk their lives daily working underground with winch operators pulling tons of platinum ore to please their bosses.

The last time mine workers protested to get better salaries and living conditions, it ended badly in Marikana when they where brutally murdered by South Police service. Surely investors in Johannesburg Stock Exchange and managers of mining companies are happy, but what about mine workers.

Will they receive dividends? 

https://m.miningweekly.com/article/amplats-expects-50-rise-in-headline-earnings-2021-02-08/rep_id:3861

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