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Cape Town - Fin24 user Banele Majingo wants to know is the R12 500 demand from platinum miners are reasonable or too much to ask for.
He also wants to know how are other mine workers remunerated in the platinum mines in the world?
He was responding to a call by labour columnist Terry Bell for debate on the crippling platinum mining strike.
Terry Bell responds:
Hi Banele
No, I don't think R12 500 is too much to ask for — and it can certainly be afforded, especially if the amount is phased in (as the union proposes) over four years.
Miners in many other countries generally receive proportionately higher pay. But South Africa contains 70% of known platinum reserves and Russia another 10%.
It is, therefore possible, to form a cartel — despite WTO and other objections — to set and control prices of the metal.
Regards
- Fin24
* Terry Bell is an independent political, economic and labour analyst. Views expressed are his own. Follow him on twitter @telbelsa.
Disclaimer: All articles and letters published on MyFin24 have been independently written by members of the Fin24 community. The views of users published on Fin24 are therefore their own and do not necessarily represent those of Fin24.
He also wants to know how are other mine workers remunerated in the platinum mines in the world?
He was responding to a call by labour columnist Terry Bell for debate on the crippling platinum mining strike.
Terry Bell responds:
Hi Banele
No, I don't think R12 500 is too much to ask for — and it can certainly be afforded, especially if the amount is phased in (as the union proposes) over four years.
Miners in many other countries generally receive proportionately higher pay. But South Africa contains 70% of known platinum reserves and Russia another 10%.
It is, therefore possible, to form a cartel — despite WTO and other objections — to set and control prices of the metal.
Regards
- Fin24
* Terry Bell is an independent political, economic and labour analyst. Views expressed are his own. Follow him on twitter @telbelsa.
Disclaimer: All articles and letters published on MyFin24 have been independently written by members of the Fin24 community. The views of users published on Fin24 are therefore their own and do not necessarily represent those of Fin24.
