No word on Amcu wage talks
There’s still no word on the outcome of talks between Amcu & platinum giants.
JOHANNESBURG - There's still no word on whether the Association of Mineworkers and Construction Union (Amcu) strike will be resolved this week, after the union and platinum giants agreed on a revised wage offer in principle.
Amcu and platinum producers met at the weekend to finalise a deal to end the five month long strike.
An announcement is expected soon and it's hoped that miners will return to work immediately.
Platinum producers have proposed to increase the salary of the lowest paid worker by R1,000 for two years and R950 in the third year, excluding other benefits.
The strike has already had a negative impact on the country's economy and investor confidence and has been mentioned by ratings agency Standard & Poor's as one of the reasons South Africa's credit rating was downgraded.
Amcu President Joseph Mathunjwa could not be reached for comment.
Watch: Platinum strike: End in sight?