JOHANNESBURG (Reuters) - Anglo American Platinum (Amplats) production of platinum group metal (PGM) fell by 41% or 521,600 ounces in the second quarter because of shutdowns in South Africa and...
It took many months of tough negotiation in the world’s largest platinum producing country that unearths nearly. 70 per cent of world supply. South Africa’s new platinum pay deal was sealed this morning after last minute postponements. It all ended without a damaging strike like the one that cost the industry dear in 2014. The dominant union in the platinum industry AMCU inked a new pay deal with top producers Amplats, Implats and Sibanye-Stillwater.
The largest union in the platinum sector, AMCU held a press briefing this morning for an update on the ongoing platinum wage negotiations and the upcoming Marikana Massacre commemoration. CNBC Africa reporter Karabo Letlhatlha spoke to Amcu President, Joseph Mathunjwa.
Zimbabwe must offer foreign miners a consistent legal framework, the right to keep a controlling stake in operations and a greater share of profits to encourage investment, the head of Anglo American...
The new rules could mean significantly higher taxes and levies on mining companies operating in South Africa.
Union members are concentrated in a handful of Amplats' operations including its Mogalakwena mine, the company's most profitable asset.