Platinum Producers May Combine Wage Talks

Bloomberg reported the world’s largest platinum producers are discussing combining wage talks to help curb violent strikes that killed 46 people in the past five weeks.

As quoted in the market news:

South Africa’s Chamber of Mines negotiates wages with unions on the behalf of gold and coal producers including AngloGold Ashanti Ltd. (AU) and BHP Billiton (BHP) Ltd. in a process called centralized bargaining.

Lonmin and Impala Platinum Holdings Ltd. (IMP), the third- and second-biggest producers of the metal, suffered strikes amid clashes with police that left dozens dead.Anglo American Platinum Ltd. (AMS) has set an ultimatum for miners to resume work today after it idled Rustenburg mines last week as a precautionary measure amid protests elsewhere.

Click here to read the full Bloomberg report.