Five-month platinum strike finally ends – Independent Online

Independent Newspapers. Picture: Timothy Bernard. Related Stories Johannesburg – Union members at South African operations of the world’s largest platinum companies today said they accept a pay deal from producers, bringing closer the end of a crippling five-month strike. “If we sign the offer tomorrow, it means the strike has ended officially and that workers will go to work on Wednesday,” Association of Mineworkers and Construction Union President Joseph Mathunjwa said at a mass rally. Thousands of Amcu members shouted out their approval for the offer from Anglo American Platinum, Impala Platinum and Lonmin at the Royal Bafokeng stadium in Rustenburg, 120 kilometres northwest of Johannesburg. “Basic salaries have gone up and even your working…

S.Africa platinum strike causing ‘irreparable’ harm – AFP

S.Africa platinum strike causing ‘irreparable’ harm (AFP) – 23 minutes ago  Johannesburg — South Africa’s platinum producers Monday said a two-month strike was causing “irreparable” damage to the sector, which has to date lost nearly a billion dollars in revenue. The strike over wages which started over eight weeks ago has halted production at the world’s top three producers, Anglo American Platinum, Impala Platinum and Lonmin. “The extended strike in the platinum belt is unprecedented, and at a stage where some of its impacts are becoming irreparable,” the chief executives of the three companies said in a joint statement. They said the strike has so far resulted in “close to 10 billion rand ($ 920…

BUSINESS DAY TV: No instant solution in platinum sector – BDlive

JOHAN Theron is group executive of corporate relations at Impala Platinum. BUSINESS DAY TV: With the Amcu (Association of Mineworkers and Construction Union)-led strike set to kick off on Thursday … some of the world’s largest platinum companies don’t seem to be leaving anything to chance. Earlier Lonmin told Business Day TV that they’d beefed up security at their operations for the safety of their employees. We’ve heard that Impala Platinum has decided to suspend all operations. Joining us on the line with more on this is Johan Theron, group executive of corporate relations at Impala Platinum. We’ve had some mixed reports today, whether you are going to be closing all of your operations or…

Platinum falls despite strikes, but gold rallies – BDlive

Platinum falls despite strikes, but gold rallies by Veronica Brown, 2014-01-23 15:46:23.0 LONDON — Platinum prices headed lower on Thursday, little affected by strike action in South Africa due to ample above-ground stocks, while gold rallied from two-week lows on a falling US dollar. Spot platinum was down 0.3% on the day to $ 1,447.75 an ounce by 11.01am GMT, while bullion gained 0.7% to $ 1,244.66 after falling earlier to $ 1,231.36. South African mines that produce half the world’s platinum shut on Thursday as the Association of Mineworkers and Construction Union began a strike for pay increases, which their employers say they cannot pay. Amcu members downed tools at Anglo American Platinum, Impala…