SASOL: 33,826 +1136 (+3.48%)
South Africa's Sasol, union begin talks to end strike
JOHANNESBURG, Sept 19 (Reuters) - South Africa's mainly
white union Solidarity and Sasol said on Wednesday they
would begin negotiations overseen by a labour tribunal to try to
end a strike by the union over a share scheme offered
exclusively to black staff.
Thousands of the unions members have been on a go-slow for
more than two weeks ago at the petrochemicals company, which is
the world's leader for making motor fuel from coal, saying the
share scheme is discriminatory because it excludes white
Sasol said last year it would raise its black ownership
levels in to at least 25 percent by offering shares to black
workers in a 21 billion rand ($1.5 billion) deal.
The energy company has said that it implemented the share
scheme in line with South African laws which require companies
to meet quotas on black ownership, employment and procurement as
part of a drive to reverse decades of exclusion under apartheid.
Meeting the rules makes a company more likely to qualify for
"Solidarity and Sasol are set to start talks at the CCMA in
Johannesburg today in a bid to end Solidarity’s protracted
strike at Sasol," the union said in a statement.
Sasol said it would take part in the talks with Solidarity
arbitrated by the Commission for Conciliation, Mediation and
Arbitration (CCMA). It was not clear how long the negotiations
Solidarity said the strike and go-slow have impacted Sasol's
maintenance projects. Sasol admitted that it had experienced
some delays during its maintenance shutdown at its Secunda
operations due to the strike.
Sasol has said parts of its flagship Secunda and Sasolberg
plants, which produce fuel and chemicals respectively, have been
undergoing scheduled maintenance shutdowns.
(Reporting by Tanisha Heiberg
Editing by James Macharia)
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