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Platinum wage talks deadlock

Pretoria - Wage talks to end a five-month strike in the platinum sector deadlocked on Monday, dashing hopes for an end to industrial action that is pulling the economy towards a recession.

"No agreement was reached today," Association of Mineworkers and Construction Union members (Amcu) leader Joseph Mathunjwa told reporters as he left negotiations in Pretoria.

"Amcu made many concessions. We actually moved twice to make employers move closer to us," he said, but added that the union did not compromise its demand for a R12 500 a month basic wage, which excludes allowances.

Monday was regarded as a crucial day for negotiations, with the government set to pull out of mediation if a deal is not agreed.

Mining ministry spokesperson Mahlodi Muofhe said earlier on Monday that he believed Amcu and the world's top three platinum producers, Anglo American Platinum [JSE:AMS], Impala Platinum [JSE:IMP] and Lonmin [JSE:LON], would agree on a deal.

Mining minister Ngoako Ramatlhodi said on Saturday that the government would pull out of its mediating role if the two sides could not reach a deal at the meeting on Monday.

Amcu workers at mines run by Anglo American, Impala and Lonmin went on strike to demand that their basic wages be more than doubled to R12 500 a month.


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