Platinum Giants Bolster Positions Before Wage Talks Begin

From bnnbloomberg.ca

When the world’s biggest platinum miners sit down to hammer out a wage deal with one of South Africa’s most militant labor unions this week, they’ll hold two potentially winning cards in reserve: the cash and metal stockpiles to endure a strike. Those buffers may prove crucial as Anglo American Platinum Ltd., Impala Platinum Holdings Ltd. and Sibanye Gold Ltd. meet with the Association of Mineworkers and Construction Union on successive days from July 9. While the producers will be conscious that AMCU led the country’s longest ever platinum mining strike in 2014, none can meet its demand for a pay increase of ... (full story)