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Platinum talks deadlock

Ngoako Ramatlhodi

Ngoako Ramatlhodi

9th June 2014

By: Natasha Odendaal

Creamer Media Senior Deputy Editor

  

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JOHANNESBURG (miningweekly.com) - The last effort by new Mineral Resources Minister Ngoako Ramatlhodi to bring an end to the 21-week strike by Association of Mineworkers and Construction Union members in South Africa's platinum mining sector has failed, with the platinum producers announcing on Monday night that the talks had been dissolved without an outcome.

At a weekend briefing, the Minister had appealed to all parties involved in the protracted strike to agree on a sustainable solution to the impasse. He had been expected to walk away from the negotiations should no resolution be reached on Monday.

This move was slammed by the Democratic Alliance’s (DA’s) shadow Minister of Mineral Resources James Lorimer.

Government must be part of the efforts to end the strike that could “bring down” peripheral sectors, as the impact of the labour unrest weighed heavily on the economy.

“At the first available opportunity, the DA will submit a motion without notice, urging the house to unanimously encourage the Minister to honour his commitment and help find a resolution to the strike, through providing additional development funds to mining communities,” he said.

Lorimer recommended that government redirect mining royalties to the mining communities through an independent and capacitated agency and create a mutually beneficial environment for both mining companies and their employees.

According to statistics released by Impala Platinum, Anglo American Platinum and Lonmin, the costly and lengthy strike had, by Monday, cost the industry 116 working days – equating to more than 30% of yearly output.

The platinum producers had also, so far, lost nearly R22-billion in revenue, while the striking employees had lost about R10-billion in wages and benefits.

The three companies noted in a statement that they remained committed to reaching a negotiated settlement, but said they would now review further options available to them.

Edited by Creamer Media Reporter

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