• Inside Labour

    Terry Bell explores the connection between poultry, poverty and desperation.

  • A new ANC sweeper?

    Have the Guptas' new auditors mastered how to look the other way on cue, asks Solly Moeng.

  • Strategy for the big boys

    Formulating strategy across the span of huge companies is a marathon, says Ian Mann.

All data is delayed
Loading...
See More

Mine strike negotiations deadlock

Mar 05 2014 14:29
Mining

(File) (Shutterstock)

Company Data

Lonmin plc [JSE:LON]

Last traded 41
Change 2
% Change 4
Cumulative volume 828342
Market cap 0

Last Updated: 29-04-2016 at 05:00. Prices are delayed by 15 minutes. Source: McGregor BFA

IMPALA PLATINUM HOLDINGS LIMITED [JSE:IMP]

Last traded 59
Change 2
% Change 4
Cumulative volume 6383242
Market cap 0

Last Updated: 29-04-2016 at 05:00. Prices are delayed by 15 minutes. Source: McGregor BFA

ANGLO AMERICAN PLAT LIMITED [JSE:AMS]

Last traded 411
Change 22
% Change 6
Cumulative volume 894412
Market cap 0

Last Updated: 29-04-2016 at 05:00. Prices are delayed by 15 minutes. Source: McGregor BFA

Related Articles

Mines spurn Amcu's revised wage demands

Implats not happy with Amcu concession

Hopes of breakthrough in Amcu strike

Amcu lowers wage demands

Talks to end Amcu strike to resume

Implats declares force majeure, talks to resume

 

Johannesburg - Mediation talks to end the strike in the platinum mining sector have been adjourned, the Commission for Conciliation, Mediation and Arbitration (CCMA) said on Wednesday.

"CCMA mediators met and engaged with all parties on Monday and Tuesday. Given that parties still remain far apart at this stage, the CCMA has decided to adjourn the process to give all parties an opportunity to reflect on their respective positions," CCMA director Nerine Kahn said.

The CCMA would remain available to all parties, and the mediation process could resume once parties had considered their positions and indicated a willingness to return to the negotiating table.

The CCMA is facilitating mediation between Anglo Platinum [JSE:AMS], Impala Platinum [JSE:IMP] and Lonmin [JSE:LON], and the Association of Mineworkers and Construction Union (Amcu).

Amcu members downed tools on January 23, demanding a minimum monthly salary of R12 500.

The mining companies have offered staggered increases of 7-9% over the next three years.

On Tuesday, Amcu said it had revised its demand and that the R12 500 minimum monthly salary could now be achieved over three years.

"We are not exactly reducing our demand. Our move is meant to give the employers a breather," Amcu president Joseph Mathunjwa told reporters in Johannesburg.

However, the companies rejected Amcu's revised demand.

"This revised demand translates into an average annual increase of between 30% to 40% year-on-year, and remains unaffordable.

"Our proposed offer, tabled on January 29, and which starts with a nine percent increase at the lowest level, is already significantly above the inflation rate," said Elize Strydom on behalf of the platinum producers.


Follow Fin24 on Twitter, Facebook, Google+ and Pinterest.

amplats  |  implats  |  lonmin  |  amcu  |  ccma  |  joseph mathunjwa  |  mines  |  labour unrest

NEXT ON FIN24X

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
20 comments
Comments have been closed for this article.
 

Company Snapshot

We're talking about:

SMALL BUSINESS

Marketing is a big concern in SA's small business community, followed by a lack of confidence and partnering with the wrong people, according to a survey.
 

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

The drop in inflation:

Previous results · Suggest a vote

Loading...