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Strike At South Africa's Lonmin PLC Averted In Favour Of Wider Talks-Reuters

Wednesday, 26 Jun 2013 10:29am EDT 

Reuters reported that South Africa's hardline miners union postponed talks with platinum producer Lonmin PLC , averting an imminent strike, to allow more time for the government to reach a wider stability pact between labour and the mining industry. South Africa's Deputy President, Kgalema Motlanthe, is trying to get unions and companies across the mining industry to sign up to a stability pact as wage talks kick off to bring an end to unrest that has been rocking the sector. Lonmin, the platinum producer, and the Association of Mineworkers and Construction Union (AMCU) were to go to arbitration on over their failure to reach a recognition agreement. The Company agreed to an AMCU request to delay the talks in order to allow the process of engagement, led by the Deputy President ... to take course, Lonmin said in a statement. 

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