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Platinum Miners Brace for Labor Clash in Early Ramaphosa Test

From bnnbloomberg.ca

When the world’s biggest platinum miners sit down with labor unions this month to negotiate a three-year wage deal, it could prove an early test of Cyril Ramaphosa’s new presidency in South Africa. An amicable outcome will bolster Ramaphosa -- the former mine union leader and one-time platinum company investor -- as he seeks to lure foreign investors. However, tensions are fraught on both sides and there are fears the labor unions will go on strike, which could send platinum prices soaring. “Ramaphosa’s key priority is to send a positive signal on reforming economy, but there will be high levels of instability after ... (full story)

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  • Category: Fundamental Analysis