Mediators make proposal to end platinum strike

Business

 Reuters

Government mediators have placed an offer on the table that they hope will end the platinum strike.

South African government mediators have put forward a proposal designed to end a strike that has hit around 40% of global platinum supply, they said at the weekend.


It was not immediately clear what the proposal entails and the Commission for Conciliation, Mediation and Arbitration (CCMA) declined to say what is in it.



"The mediated proposal or a variation thereof could form the basis of a final settlement in this dispute," said Nerine Kahn, CCMA director in a statement.


Talks between South Africa's main platinum union, Amcu, and three platinum producers - Anglo American Platinum, Lonmin and Impala Platinum - were suspended until Tuesday, the CCMA said.
The companies and Amcu also declined to disclose the content of the mediators' proposal.
Workers downed tools a week ago, seeking a doubling of wages to R12 500 a month, a demand companies have said they can ill-afford as they struggle to recover from a wave wildcat strikes that battered the sector in 2012 and led to dozens of deaths.


"It is imperative that a resolution is affordable, achievable and sustainable," the three companies said in a joint statement.
Amcu rejected a revised 9% wage hike offer last week. - Reuters