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Platinum giants ready to stare down union over pay

Posted on 07 November 2013

Rising costs and falling prices may prompt South Africa’s largest platinum mines to stare down a union threat to halt 70 percent of global production over pay demands, pushing the industry toward a prolonged strike.
The Association of Mineworkers and Construction Union, the largest at the platinum mines, has rejected pay offers exceeding South Africa’s 6 percent inflation rate. An AMCU-led strike would halt operations at Anglo American Platinum Ltd., Impala Platinum Holdings Ltd. and Lonmin Plc, which together employ about 150,000 workers and contractors on the world’s richest deposits of the precious metal………………………………………..Full Article: Source


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