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SA Platinum Workers Eye Revenue Windfall as Wage Talks Near (Early April)

SOUTH AFRICA
  • SA’s biggest platinum mining union will next week start submitting wage demands to companies as workers push for a share of the windfall profits brought by rallying metal prices.
  • Negotiations for a three-year wage deal with producers including Anglo American Platinum Ltd., Sibanye Stillwater Ltd and Impala Platinum Holdings Ltd. are expected to start in the first week of April
  • companies warn that a wage settlement with about 163,000 workers must not threaten the long-term viability of a key export industry
  • Anglo Spox said Union demands must be balanced “through future PGMs commodity price cycles and to avoid wage increases which could place many jobs at risk
  • Members of both AMCU & NUM unions have been on a strike at Sibanye’s gold mines since March 10 after wage talks collapsed. That strike could be extended to platinum mines
  • AMCU Spox said “If Sibanye gold continues not to accept the demand of the workers, we will definitely ask all our members in platinum operations to join a secondary strike,” - bbg
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
BulletEM BulletEmerging Market NewsHomepage
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
BulletEM BulletEmerging Market NewsHomepage

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