Wellgreen Platinum Ltd.
  • Home
  • About us
    • Profile
    • Management
    • Board of Directors
    • Governance
    • Social Responsibility
    • Casino Europei
    • Best Non Gamstop Casinos Uk
    • Best Casino Not On Gamstop
    • Online Casinos
    • Casino Zonder Cruks
  • Projects
    • Wellgreen ›
      • Overview
      • Location & Geology
      • Image Galleries
    • Other Projects ›
      • Shakespeare
      • Fox Mountain
      • Shining Tree
  • Investors
    • Corporate Presentation
    • Upcoming Conferences
    • Share Structure
    • Analyst Coverage
    • Financial Reports
    • Filings
    • News Releases
      • 2014
      • 2013
      • 2012
      • 2011
      • Technical Releases
  • Contact
    • Contact Us
    • Careers
PGM News

INVESTORKIT

  • June 2014 - Corporate Presentation
  • August 2012 - Wellgreen PEA Report
  • August 2012 - Wellgreen Metallurgical Report

STOCKINFO

Jul 18, 2014 3:04 am: EST
WG.V 0.62 +0.01
WGPLF 0.5795 -0.0005

Delayed by 20 minutes

RECEIVE THE LATEST NEWS RIGHT TO YOUR EMAIL

South African platinum miners review wage demands, will march in Pretoria as strike, talks, go on

March 4th, 2014 by Cecilia Jamasmie
Print Friendly Version of this pagePrint Get a PDF version of this webpagePDF

The South Africa’s Association of Mineworkers and Construction Union (AMCU) lowered its wage demands for the first time Tuesday, signalling the almost six-week strike at the world’s top three platinum producers may be ending soon.

Reuters reports the AMCU representatives said they still want monthly entry wages to start at US$1,200, more than double current levels. But now they are giving companies a three years window to do so, compared to the original demand for the rise to be immediate.

Yesterday, the group has announced its members would march in Pretoria this Thursday.

While the labour action has so far failed to ruffle traders, Anglo American Platinum (Amplats —LON:AAL), Impala Platinum (Implats) and Lonmin (LON:LMI) continue to hold talks with union leaders under the auspices of a government mediator, hoping of a prompt solution.

The strike has affected more than 40% of the global production of the metal, used widely in the auto industry. So far the companies say they have collectively lost more than US$615 million (6.6 billion rand) in revenue, according to the Chamber of Mines’ online updates.

Platinum prices were trading at around $1,447 an ounce on Tuesday. Analysts say the price relative stability is due, in part, to the mining industry being better prepared than two years ago, when it was swept by a wave of violent strikes, triggered by the death of 34 miners at Lonmin’s Marikana mine.

South Africa, Africa’s largest economy, holds about 80% of the world’s known platinum reserves, accounting for about 70% of global output.

The post South African platinum miners review wage demands, will march in Pretoria as strike, talks, go on appeared first on MINING.com.

Wellgreen Platinum Ltd.
  • About us
  • Projects
  • Investors
  • Contact
  • Legal
  • Privacy
  • Sitemap
  • Toll Free Telephone +1.888.715.7528
  • 420-1090 West Georgia Street

    Vancouver, BC Canada V6E 3V7

  • Email:[email protected] Download vCard

© Copyright 2014 Wellgreen Platinum Ltd. All Rights Reserved

Website Design & Development by: Aroma Web Design