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Rapaport TradeWire June 4, 2010
RAPAPORT NEWS SERVICE | JUNE 4, 2010 www.rapaport.com | news@rapaport.com...
Mining Jun 03, 2010 Rapaport
South African Workers Wage War on De Beers Retrenchment
South Africa’s National Union of Mineworkers (NUM) vowed to “take De Beers to the cleaners” over looming retrenchments at the diamond giant’s Finsch mine. “We are not going to rest on our laurels; we are taking the war to De Beers over these irregular retrenchments,” said Tshimane Montoedi, NUM‘s regional...
Mining Jun 03, 2010 Avi Krawitz
Zale Secures Loan From Golden Gate
Zale Corporation obtained a new $150 million, five-year, senior-secured-term loan from Golden Gate Capital. The private equity firm plans to utilize the interest and fees that accrue on the loan and warrants to purchase common stock aggregating a 25 percent equity interest in Zale on a fully diluted basis....
Retail Jun 01, 2010 Rapaport
NUM Declares Wage Dispute With De Beers
South Africa’s National Union of Mineworkers (NUM) declared a wage dispute with De Beers and said that it may go on strike over their disagreements with the firm. “The time has now arrived for us to tackle De Beers. I don’t see how we can’t give them a strike action this time...
Mining May 04, 2010 Avi Krawitz
Workers Strike at Petra’s Sedibeng Mine
More than 500 mineworkers at Petra Diamond’s Sedibeng operation in South Africa entered the second day of a strike, following a dispute with mnagement over wages and other conditions of employment, the National Union of Mineworkers (NUM) said.    The workers rejected a 5 percent wage increase offered to them by Petra...
Financial-Legal Sep 10, 2009 Deena Taylor
Rapaport TradeWire - Friday, June 26, 2009
Rapaport TradeWire - Friday, June 26, 2009 News: Hong Kong show better than expected with decent demand from Far East and India. Strong focus on cash transactions at deep discounts. Three carat and larger sizes very weak. Indian manufacturers holding rough stock in anticipation...
Mining Jun 26, 2009 Rapaport
Union Demands 15% Wage Increase for De Beers Miners
South Africa’s National Union of Mineworkers (NUM) has demanded a 15 percent wage increase for all miners at De Beers Consolidated Mines (DBCM). NUM spokespersons said in a statement that the union insists that the lowest paid DBCM workers receive a minimum monthly wage of $616 (ZAR 5,000). In addition, the union stated that workers are...
Mining Jun 21, 2009 Deena Taylor
De Beers Production Plummets
De Beers Production Plummets De Beers production fell 91 percent in the first quarter of 2009 after the company scaled back its mining in line with weakened rough diamond demand. The company’s output declined to 1.1 million carats during the three months that ended March 31, 2009,...
Mining Jun 01, 2009 Rapaport
Petra Negotiates to End Strike at Helam Mine in S. Africa
Petra Diamonds entered discussions with South Africa’s National Union of Mineworkers (NUM) Tuesday to end a strike at the company’s Helam mine. Just more than  600 of the mine's 700 workers laid down their tools on July 24, 2008 over a wage dispute with the company. A Petra...
Mining Aug 12, 2008 Avi Krawitz
Rapaport TradeWire - Friday, July 25, 2008
NEWS: Global trading markets seasonally quiet with low expectations for next week’s NY show and high expectations for next month’s Mumbai show. De Beers first half 2008 sales +10% to $3.7 bil., profits -10% to $316 mil., rough production -4% to 24.2 mil. cts. indicating...
Mining Jul 25, 2008 Rapaport
De Beers Averts Strike With 12% Pay Rise
De Beers avoided a strike Thursday when  the National Union of Mineworkers (NUM) accepted its proposal for a 12 percent wage increase for its South African workers.  NUM had rejected De Beers’ previous proposal of an 11 percent rise saying its members would start striking at 6 p.m. Thursday if the issue was...
Mining Jul 24, 2008 Avi Krawitz
South Africa: Mineworkers Union Declares Wage Dispute With De Beers
South Africa’s National Union of Mineworkers (NUM) on Thursday declared a wage dispute with De Beers Consolidated Mines and two other mining companies. The NUM said it would meet with De Beers at the Commission for Conciliation, Mediation and Arbitration (CCMA) on July 21 for conciliation, failure of which it would “prepare...
Mining Jul 13, 2008 Avi Krawitz
De Beers Wage Deal in Dispute, Workers Threaten Strike
South Africa's National Union of Mineworkers (NUM) upped its wage increase demand from De Beers after accusing the diamond mining company of reneging an earlier deal, Reuters reported Friday. NUM said on Thursday that De Beers had agreed in principle to a 12 percent wage rise for its members, but...
Mining Jun 29, 2008 Avi Krawitz
De Beers Says Cullinan Bonuses Were Fair
De Beers insisted that bonuses paid out to workers at the Cullinan mine were consistent with its fair-gain scheme in response to a march by workers Thursday in protest the bonuses they received. The National Union of Mineworkers (NUM) said in a statement that Cullinan workers were demanding a gain of 34 percent...
Mining Apr 06, 2008 Avi Krawitz
S. Africa: De Beers Unaffected by Mining 'Safety' Strike
Production at De Beers mines was not affected by a one day strike by South Africa's mine workers. The strike was called in protest to safety standards at the country’s gold, platinum, and diamond operations. More than one quarter million workers reportedly downed their tools on Tuesday. So far in 2007...
Mining Dec 04, 2007 Avi Krawitz
De Beers, Marine Workers Reach Wage Agreement
De Beers Marine in South Africa agreed to increase the wages of its 70 sea-going staff by between 8.5 and 10 percent, the diamond company stated. De Beers signed the wage settlement with the National Union of Mineworkers (NUM) after the union warned of a possible strike. NUM also accused De Beers of stepping...
Mining Aug 28, 2007 Avi Krawitz
De Beers Raises Wage Offer, Avoids Strike
Diamond miner, De Beers, averted a strike late Tuesday (July 31, 2007) by agreeing to a double digit pay rise for its South African workers. Negotiations had come to a halt when De Beers would not move beyond its 8 percent increase. The national Union of Mineworkers (NUM,) seeking an 11 percent...
Mining Jul 31, 2007 Avi Krawitz
De Beers, Workers Meet to Avoid Strike
De Beers is scheduled to meet with South Africa's National Union of Mineworkers (NUM) late Tuesday afternoon (July 31, 2007) in a last ditch effort to avoid a strike of some 3,500 De Beers workers. De Beers spokesperson Tom Tweedy told Rapaport News that the diamond mining giant will have a clearler understanding...
Mining Jul 31, 2007 Avi Krawitz
South Africa: De Beers Workers Could Strike July 31
South Africa’s National Union of Mineworkers (NUM) voted in favor of a strike against De Beers after the diamond miner failed to meet their wage demands. De Beers offered an 8 percent pay rise, short of the 11 percent hike NUM requested. NUM was required to give De Beers 48 hours notice for the...
Mining Jul 26, 2007 Avi Krawitz
S. Africa Platinum Modikwa Strike Continues
A workers strike at Modikwa platinum mine in South Africa remains in force despite ongoing negotiations between the mine management and the National Union of Mineworkers. Some 3,000 workers are refusing to return to work, protesting racial discrimination in treatment, salary, and benefits of workers. According to mine partner, African Rainbow Minerals (ARM,)...
Mining Jan 30, 2007 Jeanette Goldman
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