by Reuters

Amplats strike may be over

Strike at Amplats could draw to an end as early as today

Amplats strike may be over
Happy with revised offer

The eight-week strike at Amplats' operations could draw to an end as early as today (November 15).

According to Reuters, which said the strike committee, an entity without specific union affiliations but which had been handling negotiations at certain Amplats operations "are happy with the revised offer" made this week.

They yesterday (November 14) presented the offer to their members and encourage them to return to work today. "Indications are that the strike committee members are happy with the revised offer." Amplats' Mpumi Sithole told Reuters yesterday.

Strikers in South Africa had rejected Amplats' earlier revised offer which included a R4,500 one-off payment and a pledge to start wage talks ahead of the expiry of current deals next year, said Reuters.

Sithole said that in addition, the company has offered to pay each qualifying employee either an additional monthly allowance of R600 or a monthly salary increase of R400.

The strikes have cost Amplats close to 170 000 ounces in lost platinum production which would fetch around $250 m at current spot prices, Reuters said.

Amplats announced earlier yesterday that earnings would also be at least a fifth lower.

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