Amplats earnings jump, warns against unsustainable wage hikes

Amplats is expected to report its half-year results on July 22.

By the end of this year, the union wants to represent 30% of the more than 167,000 workers at the world’s four biggest platinum producers.

The world's top platinum miners are bracing for a fresh round of negotiations with South African workers as a rise in profits is likely to provoke higher wage demands from labour unions.

“Companies are performing well and we are confident they can accommodate our demands”

The Indigenous group will become a shareholder in Noront.

Bravura Consortium will spend more than $50 million to explore for and mine platinum in Zimbabwe.

An illegal strike that led to the dismissal of over 600 employees at the Mototolo mine run by Anglo American Platinum has been resolved and the workers will be reinstated.

The deal, approved by shareholders on Tuesday, creates a company that will eclipse Anglo American Platinum Ltd. as the world’s biggest platinum miner and will rank second to Russia’s MMC Norilsk Nickel for palladium output.

The deal also establishes the Sibanye-Stillwater Group as the world’s second-biggest palladium miner.