Amplats stakeholders to consider revised Amcu wage demand - CNBC Africa

Amplats stakeholders to consider revised Amcu wage demand

Mining

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Striking worker with placard reading "12,500" on head. PHOTO: Jay Caboz/Forbes Africa

The suspended talks come after the Association of Mineworkers and Construction Union (Amcu) revised their original wage demand of 12,500 rand per month to now be staggered over three years.

The suspension announcement was released by [DATA AMS:ANGLO AMERICAN PLATINUM LIMITED] on Wednesday.

Industrial action at Anglo American Platinum’s Rustenburg, Union and Amandelbult operations has entered into its seventh week, with the company having lost approximately 4,000 platinum ounces of daily production. This translates into 100 million rand of revenue value per day.

The company’s process operations, Mogalakwena mine and the majority of joint venture operations however continue to operate normally.

(READ MORE: S.Africa's Amcu union revises wage offer)

“Anglo American Platinum notes the revised Amcu wage demand to achieve a R12,500 basic salary for the lowest paid workers over a period of four years,” the platinum company said.

“This revised wage demand translates into an average annual increase of 29 per cent and remains unaffordable. The Company maintains that Amcu’s revised offer remains significantly above inflation and a further increase is not sustainable.”

In the statement, the company however argued that the revised wage demand translates into an average annual increase of 29 per cent, which still remains unaffordable.

(WATCH VIDEO: Impact of ongoing strikes in S.Africa platinum sector)

“We are hopeful though that Amcu will come to recognise and appreciate the realities of the company’s position, and will work towards a solution that will benefit its members. We remain open to further engagements to help bring the strike to an end,” said Anglo American Platinum CEO Chris Griffith.

(READ MORE: CCMA suspends platinum sector wage talks)

“The situation on the ground is calm and the company continues to encourage all employees participating in the strike to respect their fellow colleagues’ right to work,”Anglo American Platinum added. 

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