UPDATE: S.Africa platinum firms, union agree "in principle" offer - Implats - CNBC Africa

UPDATE: S.Africa platinum firms, union agree "in principle" offer - Implats

Mining

by Reuters 0

Platinum producers and AMCU have agreed on a wage offer to end a protracted strike. PHOTO: Jay Caboz

“The big principle in the offer has apparently been agreed to. It's just other smaller issues like the timeframe and housing allowance that needs talking about," company spokesman Johan Theron said.

The platinum producers had received the union's response to a wage offer from the companies on Monday and all parties were due to hold discussions this week, he added.

The five-month strike has hit output at mines that normally account for 40 per cent of global platinum supply and is threatening to drag Africa's most advanced economy into recession.

Siphamandla Makhanya, an AMCU shop steward, said the union would call a mass meeting this week in the platinum belt to decide on the latest company offers.

Last week, thousands of workers and AMCU shop stewards at separate meetings at [DATA IMP:Impala Platinum], [DATA AMS:Anglo American Platinum] and [DATA LON:Lonmin] urged union leaders to sign a wage deal.

The strike by 70,000 miners is the longest and costliest strike in South Africa's history. 

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