Business
South Africa’s AMCU union, platinum firms resume wage talks
Amplats Chief Executive Chris Griffith also indicated on Monday there might be progress by the end of this week as people “don’t want this to be a protracted strike”. Furthermore, the government has stepped in to mediate to avoid damage to an already struggling economy and the political standing of President Jacob Zuma’s ruling African National Congress, which faces general elections in about three months.
The producers, squeezed by soaring costs and weaker platinum prices, say the wage demands are expensive and unrealistic. In addition, wildcat strikes in 2012 also dented profits and output.
Labour group, the National Union of Metalworkers of South Africa (NUMSA), walked out at Amplats refineries and smelters on Monday, but operations have not been affected, the company said.
Source: Reuters
