Platinum producers
NUM concerned over threats of a wipe-out at Northam Platinum
The union believes there are attempts to wipe-out its presence at the mining company in Limpopo.
Scott will apparently step down from the board following Lonmin’s interim results in May.
Platinum prices fell below $900 an ounce on Tuesday for the first time since January 2009.
The bank said there were no talks about upgrading platinum’s status to a recognized reserve asset.
Wage talks between SA bullion producers and unions started in June with NUM and Amcu.
The company said by 2017 a programme of divestments would leave it with around 102,000 employees.
Anglo American Platinum kicked off the sale process for the Union mine and concentrator in October.
CEO of World Platinum Investment Council, Paul Wilson, says investors need to know more about platinum because it has long term investment benefits. Picture: Vumani Mkhize/EWN.
Africa’s most advanced economy is also struggling to shake off the shock of the strike.
A restructuring is expected in South Africa’s platinum sector after a strike by Amcu which ended in June.
Cabinet says the five-month long industrial action has had a dire impact on workers & employers.
The union will reveal the response by platinum companies to its additional demands in Rustenburg.
While it won’t say which, Sibanye Gold has publicly expressed interest in acquiring platinum mines.
Minister Ngoako Ramatlhodi says the parties concerned are working very hard to resolve the strike.
There’s still no word on the outcome of talks between Amcu & platinum giants.
The union says it's considering all options suggested during wage negotiations.
Amcu has vehemently denied its members were involved in the latest attack on non-striking miners.
A Lonmin spokesperson says wage talks between platinum firms and Amcu are ongoing.
The men were dropped off by a bus escorted under heavy police guard.