Northam Platinum Strike Enters Second Day

Bloomberg reported that employees of Northam Platinum Ltd. (OTCMKTS:NMPNF) have continued their strike for a second day. The company and the National Union of Mineworkers, which called the strike, may meet tomorrow.

As quoted in the market news:

‘There has been no invitation from the company, but we’ll be ready to see them’ for talks, Ecliff Tantsi, the union’s negotiator at Northam, said by phone today. The company’s management resolved, for safety purposes, not to allow production-related employees underground yesterday, Northam said in an e-mailed statement.

Northam’s Zondereinde operation, which has the world’s deepest platinum mine, was served with a strike notice after the latest wage offer of a 7 percent to 8 percent increase was rejected, the metals producer said. The NUM, which has more than 7,000 members at the company, demands an average raise of 61 percent, it said.

Click here to read the full Bloomberg report.