Catherwood LibraryILR School

Over the past week, the three largest platinum producers in the world, all located in South Africa, have decided upon three-year wage agreements after negotiating with the Association of Mineworkers and Construction Union. Significantly, employees did not have to strike this year. In 2014, platinum workers spent five months striking. Mike Schussler, an economist working in Johannesburg, commented that there is “a history of frequent and long strikes in [South Africa] so the fact that one of the more militant unions has chosen not to strike is very significant”. Indeed, for South Africa to keep its current investment ratings, S&P Global Ratings has stressed that the country’s labor relations must improve.