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Johannesburg - Talks between platinum producers and the Association of Mineworkers and Construction Union (Amcu) to resolve the 12-week-long wage strike are expected to continue on Wednesday, the Chamber of Mines said.
"There is no update... the meeting is expected to continue tomorrow," said spokesperson Charmane Russell.
Amcu was in a meeting with platinum producers at an undisclosed venue following a new wage offer tabled for the striking mineworkers.
Anglo Platinum (Amplats) [JSE:AMS] and Impala Platinum (Implats) [JSE:IMP] have presented Amcu with the new offer in a bid to end the three-month-long strike in the platinum sector.
The proposed increases would ensure that the minimum cash remuneration (comprising basic wages and holiday, living out and other allowances) for entry level underground employees rises to R12 500 per month (R150 000 per annum) by July 2017.
In terms of this proposal, the cash remuneration for the employees would rise between 7.5% and 10% across the various bands of employees, with relevant allowances rising in line with inflation.
The cost-to-company for the lowest-paid underground employee would be in excess of R17 500 per month (R210 000 per annum) by July 2017.
This includes cash remuneration, medical, retirement, overtime and bonus provisions.
Union president Joseph Mathunjwa and chief negotiator Jimmy Gama could not be reached for comment as their cellphones went unanswered.
Amcu members at Impala, Lonmin and Amplats operations in Rustenburg in North West and in Northam in Limpopo downed tools on January 23 demanding a basic salary of R12 500 per month.
The union previously rejected a wage increase of up to nine percent. The companies, in turn, rejected Amcu's revised demand that the R12 500 could be phased in over four years.
The 12-week strike had so far resulted in R6bn in employees' lost earnings and R14bn in companies' revenue lost, according to the Chamber of Mines' website.
