Amcu, platinum firms reach ‘in principle’ agreement

Eyewitness News & Reuters

JOHANNESBURG – There appears to be progress this afternoon in negotiations aimed at ending the country’s longest and costliest ever mining strike.
Platinum producers Lonmin, Impala and Anglo American have announced that ‘in principle’ undertakings have been reached with the Association of Mineworkers and Construction Union (Amcu) leadership.
Shop stewards from the union have reportedly told Amcu President Joseph Mathunjwa to sign the deal.
If they succeed, the strike will finally come to an end. The companies expect to receive feedback from Amcu by today (Friday 13 June).
In recent weeks, new Minister of Mineral Resources Ngoako Ramatlhodi entered negotiations but ended his role on Monday, saying the parties would have to solve the dispute between themselves.
International markets are already jumping at the news, with the share price of Lonmin up by almost eight percent today. Impala and Anglo American stocks have also gained.
(Edited by Craig Wynn)