Mining Industry, Union Meeting May Spur Talks Between AMCU, Platinum Miners

Reuters reported that Kgalema Motlanthe, deputy president of South Africa, will be meeting with unions and mining industry members on Thursday.

Some market participants hope that the meeting will spur talks between the country’s Association of Mineworkers and Construction Union (AMCU) and major platinum miners Lonmin plc (LSE:LMI), Impala Platinum Holdings Ltd. (OTCMKTS:IMPUY) and Anglo American Platinum Ltd. (OTCMKTS:AGPPY). AMCU members are currently striking at the operations of those companies

As quoted in the market news:

Asked if issues around the strike would be raised, an industry source said the meeting would ‘cover all of these critical aspects’.

Motlanthe is the government’s point man on labour tensions in the country’s mining sector but past meetings have done little to ease them.

The biggest mining strike in South Africa since apartheid ended two decades ago is hitting economic growth, making it an unwelcome distraction for President Jacob Zuma and his ruling ANC party as general elections loom on May 7.

Click here to read the full Reuters report.