South African Mining Minister Presents New Offer for PGM Miners to Consider

The Wall Street Journal reported that South Africa’s Mining Minister Ngoako Ramatlhodi has given a new offer to major platinum miners Anglo American Platinum (LSE:AAL), Impala Platinum (JSE:IMP) and Lonmin (LSE:LMI) in South Africa in an attempt to end an ongoing strike in the country. The mining minister sent the proposal on behalf of the Association of Mineworkers and Construction Union, according to the Journal.

As quoted in the publication:

The AMCU has demanded higher wages for its members. An earlier wage offer by the platinum producers was rejected by the union, according to two people familiar with the negotiations. Mr. Ramatlhodi said the companies requested time to consider the latest proposal from the union. The AMCU didn’t respond for a comment when contacted by The Wall Street Journal.

Click here to read the full Wall Street Journal article.