[miningmx.com] – THE market had under-estimated the resolve of the Association of Mineworkers & Construction Union (AMCU) which is leading a strike over wages South Africa’s platinum sector, said an analyst.
The strikes are going on longer than planned,’ Stephen Meintjes, head of research at Imara SP Reid told Bloomberg News. “People might have underestimated the mineworkers’ resolve.’
The platinum strike is now in its sixth week with AMCU virtually unmoved on its demand for a basic R12,500 per month strike – an impasse that was turning into a crisis. “The losses could be so big for both parties that you could easily see a hardening of positions if you miss one another again,’ Johan Theron, spokesperson for Implats told Bloomberg News.
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