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LONDON - South Africa's powerful National Union of Mineworkers (NUM), with 317,000 members, has intervened in the proposed merger between the mining companies Anglo American and Xstrata. It claims any deal would "lead to unacceptable job losses" at Anglo, which is South Africa's largest industrial company and accounts for 3 per cent of the country's GDP. It employs 110,000 in dozens of mines across South Africa, in Botswana and Namibia. The NUM did not believe assurances given by Xstrata chief executive Mick Davis last week that the company had no intention of achieving cost-savings at the merged group of US$1 billion ($1.55 billion) via large cuts in employee numbers. An NUM spokesman said: "We have heard this before. Two companies get together and promise there won't be any job cuts, but they always restructure and... [read full story]
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