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.
Implats half year results revealed a 10.1 per cent increase in gross platinum production and a 331 cents increase headline earning per share. Impending strikes could affect the next period’s performance. CNBC Africa's Kopano Gumbi spoke to CEO Nico Muller.
South Africa’s Impala Platinum has started talks with the government and unions that could see up to 2,500 workers laid-off at its Rustenburg operations west of Johannesburg, the company said on Monday. Implats,...