Negotiator’s Comment Throws Wrench in Platinum Wage Talks

Mineweb reported yesterday that the wage negotiations taking place between South Africa’s Association of Mineworkers and Construction Union (AMCU) and major miners Lonmin plc (LSE:LMI), Impala Platinum Holdings Ltd. (OTCMKTS:IMPUY) and Anglo American Platinum Ltd. (OTCMKTS:AGPPY) have “taken a turn for the worse.”

Causing problems is a report that quotes the Chamber of Mines’ chief negotiator as saying that the Commission for Conciliation Mediation and Arbitration (CCMA) caused talks between the miners and the AMCU to break down.

As quoted in the market news:

During the interview, which the Chamber claims was off-the-record, [Elize] Strydom lambasted the CCMA negotiators for not having knowledge of mining or economics, and also questioned the logic of the CCMA when handling the negotiation process.

In a statement, the chamber’s CEO Bheki Sibiya said it was regrettable that an off the record discussion with a journalist was reported and apologised to the CCMA for the embarrassment caused by Strydom’s remarks.

‘Dr Strydom is an expert in labour relations and is a fearless, respected and fair negotiator, who always acts in the best interest of her constituents and their counterparts. The Chamber of Mines will engage directly with the CCMA regarding any maters directly relating to the negotiations,’ he said in a statement.

Click here to read the full Mineweb report.