Platinum Miners Resume Talks with AMCU, South Africa

Reuters reported today that talks are set to continue between platinum producers Anglo American Platinum (JSE:AMS), Impala Platinum (JSE:IMP), Lonmin (LSE:LMI,JSE:LON) and South Africa’s AMCU union. The groups plan to meet this morning in an attempt to resolve a three month impasse between workers and platinum mining companies in the African nation, according to Reuters.

As quoted in the publication:

Initially demanding an immediate doubling of the basic wage – the salary before various allowances are added such as housing – for entry-level workers to 12,500 rand ($1,200) a month, AMCU has since said it would accept annual increases of around 30 percent that would reach this goal in three years’ time. The producers’ latest offer, made last Thursday, was for wage hikes of up to 10 percent and other increases which would take the minimum pay package – the basic wage including the allowances – to 12,500 rand a month by July 2017.

Click here to read the full Reuters article.