Lonmin, Implats and Amplats Send New Offer to AMCU

Mineweb reported yesterday that Lonmin plc (LSE:LMI), Impala Platinum Holdings Ltd. (OTCMKTS:IMPUY) and Anglo American Platinum Ltd. (OTCMKTS:AGPPY), whose South African operations are embroiled in strikes led by the Association of Mineworkers and Construction Union (AMCU), have approached the union with what could be their final offer.

As quoted in the market news:

The revised offer proposed by Anglo American Platinum, Lonmin and Implats is looking at increasing wages by between 7 and 9 percent over a three year period for its employees that are engaged in protest action at their operations, stressing that anything above what has been offered will most likely have disastrous consequences for the industry.

When pressed on what would be the next step if AMCU refuses these offers, the industry leaders said they would have to go back to the negotiating table which would plunge the embattled industry into further disarray.

Click here to read the full Mineweb report.