Business

Amplats losing R100m daily due to Amcu strike

Sapa

Anglo American Platinum says the Amcu strike over wages has resulted in the mining giant losing hundreds of millions of rands in revenue daily.

Members of Amcu at Lonmin, Amplats, and Impala Platinum embarked on a strike on January 23, demanding a R12 500 basic salary for miners. (Oupa Nkosi, M&G)

Mining giant Anglo American Platinum (Amplats) is losing about R100-million a day because of a strike by the Association of Mineworkers and Construction Union (Amcu), which entered its fourth week on Monday.

"The company is losing 4 000oz, amounting to R100-million in revenue daily," said Amplats spokesperson Mpumi Sithole.

Amplats on Saturday said it was suing Amcu for damages and losses suffered over their work stoppage.

Amplats was seeking R591-million but this could rise if damages continued, said Sithole.

"The provisional quantum of the damages claim is about R591-million, although as Amcu's wrongful conduct is continuing, the damages will continue to accrue," she said.

Wage proposal
The Commission for Conciliation, Mediation, and Arbitration (CCMA) said talks between Amcu and platinum mining companies were due to resume on Monday at 11am.

Friday's session was postponed as Amcu officials had to attend a funeral.

Members of Amcu at Lonmin, Amplats, and Impala Platinum embarked on a strike on January 23, demanding a R12 500 basic salary for miners.

The platinum producers proposed a three-year agreement last month. The proposal was a 9% increase for A-level workers, 8.5% for B-level, and 7.5% for C-level workers in the first year.

The CCMA has been mediating talks between the union and the platinum companies since January 24.  – Sapa

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