Bloomberg reports that on Thursday both Anglo American Platinum (Amplats) and the Association of Mineworkers and Construction Union (Amcu), who are preparing for new wage talks, said they don’t expect any major output interruptions.  

The last two-year accord, which expires next month, was signed following a crippling five-month mine strike.  But, since then prices have slumped by a third, forcing mining companies to cut jobs because many operations have become unprofitable.  Chris Griffith, Amplats CEO, said:  “This will be a very different wage negotiation round…  I think there is a much greater sense of reality and the expectations are very different.”  Amcu spokesman Manzini Zungu said they also did not expect any large disruptions.  The union is holding a meeting on Thursday to decide on the wage demands.

• Read this report by Eddie van der Walt and Kevin Crowley in full at Moneyweb
• See too, Chamber of Mines ‘hopeful’ on platinum wage negotiations, at The New Age

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