Platinum talks to resume Monday

FILE PICTURE: A striking miner holds a cardboard box on his head with text reading

FILE PICTURE: A striking miner holds a cardboard box on his head with text reading "12,500 Rands" as striking miners chant slogans while marching to Wonderkop Stadium near Lonmin's platinum mine in Marikana on January 23, 2014. AFP PHOTO / ALEXANDER JOE

Talks aimed at resolving the Amcu strike at Lonmin, Impala Platinum and Anglo American Platinum will resume on Monday, the companies said.

Representatives of the platinum producers and the Association of Mineworkers and Construction Union (Amcu) continued their negotiations on Friday, the companies said in a joint statement.

Amcu members at the three companies began a protected strike on January 23, demanding a basic entry-level salary of R12,500 per month for miners.

Last month the platinum companies offered a three-year wage deal, which they said was the maximum the companies could afford without endangering the sustainability of the sector.

The Commission for Conciliation, Mediation and Arbitration has been brokering talks between the union and the platinum companies since January 24.

The union has been accused of flouting picketing rules and Amplats has launched a contempt of court application against it.

“The provisional quantum of the damages claim is about R591m, although as Amcu’s wrongful conduct is continuing the damages will continue to accrue,” Amplats spokeswoman Mpumi Sithole said a week ago.

Implats CEO Terence Goodlace said on Thursday the company’s operations in Rustenburg, North West, had lost production of 2800 ounces of platinum and R60m in revenue per day due to the strike.

The platinum producers have set up a webpage –¬†¬†which displays, in real time, the losses suffered by the companies and workers since the strike began.

Around 5pm on Friday, the companies’ revenue losses, according to the website, were over R5.7 billion and employees’ lost earnings over R2.5bn, and increasing by the second.





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