Producers Plan Further Talks Following Additional Wage Demands

Bloomberg reported that major PGM producers Anglo American Platinum (LSE:AAL), Impala Platinum (JSE:IMP) and Lonmin (LSE:LMI) are looking to meet with South Africa’s Association of Mineworkers and Construction Union again after the AMCU put forward additional wage demands following the announcement of an imminent resolution. The producers have said that the additional demands would cost $94 million, according to Bloomberg.

As quoted in the publication:

The latest requests are unaffordable, the producers said in their statement. They have lost 23.2 billion rand in revenue since the start of the strike while workers have missed out on 10.3 billion in wages, the producers said on a joint website. AMCU President Joseph Mathunjwa and Treasurer Jimmy Gama didn’t answer calls seeking comment. Sue Vey, a spokeswoman for Lonmin, wasn’t able to comment on the outcome of talks today.

Click here to read the full Bloomberg article.