[miningmx.com] – THE platinum industry strike called by the Association of Mineworkers & Construction Union (AMCU) is set to become the single biggest since 1994, said Reuters which calculated production losses at 440,000 ounces.
Anglo American Platinum (Amplats), Impala Platinum (Implats) and Lonmin collectively lost 544,000 ounces in 2012 as a result of a series of separate strikes. The current strike will pass the 544,000 ounce mark if it continues for another 11 days, said Reuters in a report published on March 18.
The companies have lost more than R8.8bn in revenue so far, according to a website provided by the Chamber of Mines, which constantly tallies the losses, said Reuters.
Citing Jimmy Gama, AMCU’s treasurer, Reuters said there was no immediate plans to return to wage negotiations. AMCU is pushing for a basic wage of R12,500 per month, a level the platinum sector said was unaffordable.
Click here to read the full article
