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Unending Miners Strike Costs South African Platinum Firms $1 billion

Unending Miners Strike Costs South African Platinum Firms $1 billion

From Voice of America

Hope for a settlement this week of South Africa’s prolonged platinum miners strike was dashed when the country’s largest mining union boycotted a meeting chaired by South Africa’s deputy president.

Thousands of platinum mine workers belonging to the country’s largest mining union, the Association of Mineworkers and Construction Union (AMCU), went on strike on January 23 demanding a monthly basic salary of $1,181. A series of talks to end the strike has so far failed.

On Thursday, South African Deputy President Kgalema Motlanthe convened a meeting of all stakeholders to discuss peace and stability in the entire mining sector. However, AMCU boycotted the meeting and instead marched to the Impala Platinum Mine headquarters in Johannesburg to demand better wages.

Union leader Joseph Mathunjwa vowed to keep the workers on strike until their demands were met. He had no kind words for the mine bosses.

“Some of them, they have never even, been to those underground harsh conditions that we are facing 365 days, but they are walloping immense salaries. Why?” asked Mathunjwa.

South Africa’s Minerals Resources Minister, Suzan Shabangu, made a passionate call for all involved to bring the strike to an end.

“The situation is highly destitute (desperate), indeed we would like to see parties being able to resolve the matter. As we know that this strike is not only hurting the workers it’s hurting the country too. We really want a resolution… to the strike itself,” said Shabangu.

Economists have warned that the strike is already having a negative impact on both the mining industry and the economy at large. So far, platinum mines have lost over $944 million in revenue while workers have lost $378 million in salaries.

Read more at Voice of America