Platinum producers start showing S.Africa strike losses in real time

JOHANNESBURG Mon Feb 24, 2014 7:37am EST

Related Topics

JOHANNESBURG Feb 24 (Reuters) - 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 American Platinum, Impala Platinum 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 1200 GMT, revenues lost were at just over 5 billion rand ($456 million) and earnings bled stood at over 2 billion rand.

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 12,500 rand.

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.

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.