Home > News > World
Monday February 10, 2014 MYT 6:06:23 PM
Monday February 10, 2014 MYT 6:07:17 PM
JOHANNESBURG (Reuters) - The world's top platinum producers and the AMCU union will hold separate meetings with a South African state mediator this week to discuss a stoppage over wages but no talks are scheduled between the companies and the union.
Members of the Association of Mineworkers and Construction Union (AMCU) downed tools over two weeks ago at Anglo American Platinum, Impala Platinum and Lonmin after wage talks failed, and the prospect of a resolution looks distant without the companies and union coming together.
The strike, which has hit over 40 percent of global output of the precious metal, is stoking tensions on South Africa's platinum belt and an AMCU shop steward was killed on Friday in a clash with police.
"We are meeting with the companies and AMCU separately this week," a spokeswoman from the state mediator told Reuters on Monday.
It was unclear when it was meeting the union but a spokeswoman for the producers told Reuters the companies would meet the government mediator on Thursday.
The strike and the growing uncertainty over how to bring it to an end have undermined investor confidence in Africa's largest economy at a time when the rand currency has traded near five-year lows.
The stoppages are costing the country an estimated $36 million a day and are an unwelcome distraction for President Jacob Zuma and the ruling African National Congress three months ahead of general elections.
AMCU wants a more than doubling of basic pay to 12,500 rand ($1,100) a month, which companies say they can ill afford as they grapple with soaring costs and depressed global demand for the metal used for emissions-capping catalytic converters in vehicles.
The companies have offered wage hikes of up to 9 percent which they say are fair given an inflation rate of 5.4 percent.
(Reporting by Ed Stoddard and Zandi Shabalala; editing by Keiron Henderson)
Housing project helps South Africa's platinum miners escape shanty towns
French PM to Valls to meet Merkel on Germany trip
U.S., EU ready new sanctions to stop oil exploration in Russia
EU delays new Russia sanctions, to meet on Thursday
Say 'Non' - Quebec referendum offers lessons for pro-union UK leaders
North Korea proposes Japan abduction talks in Pyongyang
Hong Kong protesters stockpile supplies, fear fresh police advance
Hesitant Turkey seeks mandate for military action against Islamic State
Obama, Modi vow to boost strategic ties, create model for world
Special Report - Wheat warfare: Islamic State uses grain to tighten grip in Iraq
Myanmar confirms controversial Rohingya plan at United Nations
Philippines recovers eight paintings from Marcos family
Artists honour 'Usagi Yojimbo' creator with drawings from the heart
Irishman Roche joins Team Sky
Copyright © 1995-2014 Star Publications (M) Bhd (Co No 10894-D)