New Amcu demands to cost R1bn

Johannesburg - Meetings between Anglo American Platinum [JSE:AMS] (Amplats) and the Association of Mineworkers and Construction Union (Amcu) will continue on Thursday, the platinum producer said.

"We had a meeting yesterday [Wednesday], and we are having another one today," spokesperson Mpumi Sithole said.

Amcu and Amplats, Impala Platinum [JSE:IMP] (Implats) and Lonmin [JSE:LON] reached separate "in principle" agreements earlier this month.

Amcu then submitted written responses to Lonmin, Amplats, and Implats, with new demands.

The companies said the additional demands would involve extra costs of around R1bn in aggregate.

Implats spokesperson Johan Theron said his company had been communicating with Amcu, but had yet to hold a meeting with the union to discuss developments.

"We have been in telephonic contact, and communicating with them at the mine level. We haven't been able to sit across the table."

He said Implats had been holding board meetings over the past two days, but intended to meet Amcu soon.

"We are trying to meet with them as soon as possible, potentially later today [Thursday] or tomorrow."

Lonmin and Amcu could not immediately be reached for comment.

Amcu members at Amplats, Implats, and Lonmin went on strike on January 23 demanding a basic monthly salary of R12 500.

Talks facilitated by the Commission of Conciliation, Mediation, and Arbitration (CCMA) stalled in March after the CCMA ruled that the parties were too far apart.

Mineral Resources Minister Ngoako Ramatlhodi set up an inter-governmental task team last month in an attempt to break the deadlock. On June 9 the task team withdrew from the talks.

The following day Ramatlhodi denied he had abandoned the talks.

"The simple reason behind this is that I strongly believe we have done enough work over the past two weeks... for the parties to take the process forward and continue engaging on their own," he said at the time.

By Thursday, the five-month-old strike had cost the industry R23.2bn in lost earnings, while employees had forfeited wages of around R10.3bn, according to a website set up by the companies.

We live in a world where facts and fiction get blurred
In times of uncertainty you need journalism you can trust. For 14 free days, you can have access to a world of in-depth analyses, investigative journalism, top opinions and a range of features. Journalism strengthens democracy. Invest in the future today. Thereafter you will be billed R75 per month. You can cancel anytime and if you cancel within 14 days you won't be billed. 
Subscribe to News24
Rand - Dollar
18.09
-0.7%
Rand - Pound
19.33
+0.3%
Rand - Euro
17.38
-0.1%
Rand - Aus dollar
11.68
+0.2%
Rand - Yen
0.13
-0.1%
Gold
1,621.66
-1.3%
Silver
18.34
-2.8%
Palladium
2,047.50
-1.2%
Platinum
852.00
-0.8%
Brent Crude
86.15
-5.0%
Top 40
57,290
+0.3%
All Share
63,626
+0.3%
Resource 10
56,215
-0.2%
Industrial 25
79,529
+1.4%
Financial 15
13,982
-1.2%
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot
Government tenders

Find public sector tender opportunities in South Africa here.

Government tenders
This portal provides access to information on all tenders made by all public sector organisations in all spheres of government.
Browse tenders