Platinum Companies to Meet With Union to End Pay Strike
The world?s biggest platinum-mining companies are back in mediation sessions with the South African miners? unions that have held a crippling strike for 17 weeks. The meetings will last for as long as three days and will be between the Association of Mineworkers and Construction Union and the three largest platinum-mining companies: Amplats, Impala Platinum Holdings, and Lonmin Plc. The meetings come after the AMCU requested the Labour Court to stop the companies from texting new wage offers to the union membership without consulting the union. The unions are demanding that the companies more than double wages by 2017, which the companies say is unaffordable. The last offer by the employers was to raise wages 10% annually, but was rejected quickly. Both the companies and the union have released statements expressing their optimism for the latest round of talks.
See "Platinum Companies to Meet With Union to End Pay Strike", Kevin Crowley, Bloomberg News, May 20, 2014