No Resolution for SA Platinum Miners' Strike

LONDON-- Anglo American Platinum Ltd., Lonmin PLC and Impala Platinum Holdings Ltd. said Friday they have been unable to reach a resolution to settle the three months of strikes across South Africa over wages and benefits, despite putting a new offer on the table.

The offer tabled by South Africa's three biggest platinum producers on April 17 will see the highest paid employees getting an increase of 7.5%, with the lowest paid Lonmin employees getting 9.5%, and the lowest paid at Anglo American Platinum and Impala getting 10% rises.

Allowances, such as the living out allowance, will rise in line with inflation, the companies said in a joint statement. Allowances that are determined by an existing formula, such as the holiday leave allowance, will continue to apply, they added.

The companies said they remain committed to dealing with long-term issues of mutual concern, such as labor migrancy and living conditions, through company-level joint task teams.

The offer follows the recent meetings between the producers and representatives of the Association of Mineworkers and Construction Union, in a process facilitated by the Minister of Labour.

To date, the strike has cost employees some 6.4 billion South African Rand ($608.93 million) in lost income and the producers around ZAR14.5 billion in lost revenue.

Write to Ian Walker at [e-mail]

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