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Platinum producers show strike losses in real time

Platinum producers show strike losses in real time

Photo by Duane Daws

24th February 2014

By: Leandi Kolver

Creamer Media Deputy Editor

  

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JOHANNESBURG (miningweekly.com) – Platinum producers Lonmin, Anglo American Platinum (Amplats) and Impala Platinum (Implats) on Monday started publishing, online in real-time, the losses resulting from the Association of Mining and Construction Union’s (AMCU’s) strike in the sector.

According to the online metering device, at 16:00 on Monday the three companies had lost just over R5-billion in revenue, since the strike for a basic entry-level wage of R12 500 started on January 23, while employees had lost about R2.2-billion in wages.

The platinum miners also said in a statement on Monday that they were still committed to a negotiated settlement, with the revised offer of a 9% wage increase at entry-level made on January 29 remaining on the table.

“As previously stated, this offer pushes the boundary of what is affordable and sustainable. The companies await a clear signal from AMCU that it is finally ready to engage in real negotiations,” the miners said.

Meanwhile, AMCU president Joseph Mathunjwa last week said the union would be willing to move on its R12 500 wage demand if the three CEOs negotiated directly with AMCU.

At a media briefing Mathunjwa said the CEO’s needed to participate in the negotiation process, as company representatives negotiating on their behalf were “misleading” company heads.

The real-time strike losses can be accessed at www.platinumwagenegotiations.co.za.

Edited by Tracy Klückow
Creamer Media Contributing Editor

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