adminJOHANNESBURG. – Global platinum producer Anglo American Platinum (Amplats) announced yesterday that it will not be able to meet its contractual obligations due to a protracted strike. The world’s top platinum producer said it has issued force majeure notices to some of its suppliers, which include blasting and other logistics’ companies.
Amplats said this was due to circumstances beyond its control.
The latest development came after Impala Platinum issued force majeure notices to its suppliers in February.
Amplats said that at this stage it could not foresee having to issue force majeure notices to its customers.
About 80 000 workers downed tools on January 23 at three major platinum companies – Amplats, Impala and Lonmin – forcing a near standstill in platinum production.
The workers demand basic salaries of about US$1,190 a month.
Later, the workers revised their demand, agreeing to a gradual realisation of the demand in a period of four years instead of right now.
But platinum producers rejected the revised demand, saying the new offer translates into an average annual increase of 29 percent and remains unaffordable as it remains significantly above inflation.
Talks between striking workers and platinum companies continued yesterday but with no sight of an end to the strike.
By yesterday morning, the companies’ revenues loss stood at about US$1 billion, and employees’ earnings loss at more than US$466 million.
The companies are presenting the losses on the website (www. platinumwagenegotiations.co.za), with figures on lost revenue and employees’ lost earnings changing every second. – Xinhua.
Online Reporter