Security: SIA asks Zuma to reconsider

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Security

SIA asks Zuma to reconsider

The private security industry called on President Jacob Zuma yesterday to reconsider a bill that limits foreign ownership in private security companies. “The South African private security industry is urging the president to reconsider a clause in the Private Security Industry Regulation Amendment Bill, which will require foreign-owned security companies operating in the country to have a local shareholding of at least 51 percent,” the Security Industry Alliance (SIA) said. The bill was passed in the National Assembly last month and was later adopted by the National Council of Provinces. The government argues that the move is necessary for, among others, national security. SIA said it believed inclusion of the foreign ownership clause would hurt business confidence in the country. – Sapa

Labour

Strike in Mali put on hold

Mineworkers at AngloGold Ashanti’s Sadiola and Yatela gold mines in Mali had postponed the start of a planned strike for a few days to allow negotiations over redundancy payouts, a union official said yesterday. Workers at the mines held a five-day strike last month to demand better lay-off terms as the firm plans to cut costs following a slump in gold prices, and were due to hold another stoppage. “The strike was expected to start last night but we decided to suspend it following a request from the governor of the region,” Mahamadou Konte, the president of a commission representing the miners at the negotiations, said. AngloGold was not immediately available to comment. – Reuters

Mining

Goldplat looks for partner

Goldplat was considering a joint venture for its Kenyan operations to help curb losses and comply with a new local ownership law, it said yesterday. London-listed Goldplat, with assets in Kenya, South Africa, Ghana and Burkina Faso, said the partnership would help redevelop its Kilimapesa gold mine in western Kenya, which is being maintained on a skeleton operation to limit financial losses. “The company is talking to potential joint venture partners to carry the capital costs for expansion,” Goldplat chairman Brina Moritz said. – Reuters


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