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Talks to end Amcu strike to resume

Johannesburg - Talks aimed at resolving the Association of Mineworkers and Construction Union (Amcu) strike at Lonmin [JSE:LON], Impala Platinum [(Implats) JSE:IMP] and Anglo Platinum (Amplats) [JSE:AMS] will resume on Monday, the companies said.

Representatives of the platinum producers and the Amcu continued their negotiations on Friday, the companies said in a joint statement.

Amcu members at the three companies began a protected strike on January 23, demanding a basic entry-level salary of R12 500 per month for miners.

Last month the platinum companies offered a three-year wage deal, which they said was the maximum the companies could afford without endangering the sustainability of the sector.

The Commission for Conciliation, Mediation and Arbitration has been brokering talks between the union and the platinum companies since January 24.

The union has been accused of flouting picketing rules and Amplats has launched a contempt of court application against it.

Implats CEO Terence Goodlace said on Thursday the company's operations in Rustenburg had lost production of 2800 ounces of platinum and R60m in revenue per day due to the strike.

The platinum producers have set up a webpage - www.platinumwagenegotiations.co.za - which displays, in real time, the losses suffered by the companies and workers since the strike began.



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