South Africa’s big trio of platinum producers, Anglo American Platinum, Impala Platinum and Sibanye-Stillwater will sign wage deals on Wednesday, the Association of Mineworkers and Construction Union said. This is a welcome development, but tensions are still high on the platinum belt.
Bringing the talks to a successful conclusion is good news for the industry, which has made a dramatic turnaround in recent years. It also defuses a potential strike that would have further dented confidence in South Africa. The two sides have been close for some time. Amcu’s demands had been for hikes for its lowest-paid members of R1,500 a month for the next three years, which would be a cumulative increase over that period of close to 40% – well above current rates of inflation.understands that Amplats’ offer in the first year is an increase of R1,000 a month for the lowest-paid categories and then an extra R800 a month in the next two years.
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