Sylvania bosses lead by example

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IOL BR mining PIC001 Reuters.

Sylvania Platinum's top executives, including its chief executive, would give up a third of their pay for the remainder of the financial year as the company cut costs to offset production lost as a result of recent strikes, the South Africa-focused mining firm said yesterday.

South Africa's platinum industry has been hit by violent strikes this year, spawned by income disparities and a union turf war.

Sylvania had said in early October that it had suspended operations due to a strike at neighbouring mines.

Operations resumed at its Millsell and Mooinooi plants in the Bushveld igneous complex later in the month.

The platinum firm said output had recovered last month after the resumption of operations. - Reuters


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