South Africa: AMCU Again Says That Platinum Wage Deals Will Be Signed

analysis

The Association of Mineworkers and Construction Union has once again said that wage deals will be signed with South Africa's big platinum producers, this time on Friday, 15 November 2019. The union said on Tuesday that the signing ceremony would take place on Wednesday and then pulled the plug amid apparent last-minute wrangling. Hopefully, there is no false alarm this time.

If all goes according to plan, at 10am on Friday in Rosebank, Johannesburg South Africa's big three platinum producers -- Anglo American Platinum (Amplats), Impala Platinum (Implats) and Sibanye-Stillwater -- will sign wage agreements with Amcu. Other unions are also on board. That will conclude the 2019 round of wage talks, which were accomplished without a protracted and violent strike, the last thing that South Africa's ailing economy needs right now.

The writing had frankly been on the wall for some time. The industry has made a dramatic turnaround and was in a position to offer pay increases above inflation, which has been relatively muted, taking some of the sting out of the wages that miners take home or send back to their families in rural areas. Amcu, for its part, was from the outset not demanding the 100%-plus...

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