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SOUTH Africa’s platinum producers on Monday started showing in real time revenue and earnings lost to a strike in the sector as the stoppage runs into its fifth week with no end in sight.
Anglo Platinum (Amplats), Impala Platinum (Implats) and Lonmin are presenting the losses on the website www.platinumwagenegotiations.co.za, with figures on lost revenue and employees’ lost earnings changing every second.
As of 12:00 GMT on Monday, revenues lost were at just over R5bn ($456m) and earnings bled stood at over R2 billion. Members of the Association of Mineworkers and Construction Union (Amcu) downed tools at Amplats, Implats and Lonmin over four weeks ago, demanding that monthly entry-level wages be more than doubled to R12,500.
The producers say they cannot afford this given depressed prices and rising costs. Government mediators are enabling talks between the producers and the union but the two sides remain poles apart on the issue of wages. – Reuters
Online Reporter