[miningmx.com] – ANALYSTS cast doubts on the ability of the South African government to forge a wage agreement between the country’s platinum firms and the Association of Mineworkers & Construction Union (AMCU).
“To date, government has had little credibility at the negotiating table,’ Michael Kavanagh, a Noah analyst in Cape Town, said in a note to clients. “We are sceptical that AMCU will suddenly respect him or his ministry and as such are not overly optimistic that a solution will be found today.’
“We hope to see progress, but don’t anticipate any rapid solution with the strike heading for its 19th week and neither side in a position to give way,’ said Hunter Hillcoat, an analyst at Investec Securities.
Newly appointed mines minister, Ngoako Ramatlhodi, appointed a technical team involving the platinum firms, the Chamber of Mines of SA, and AMCU aimed at finding a solution to the strike.
This was after the sides met from last week in mediation under the auspices of the Labour Court, discussions that appear to have failed.
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