DOWN THE DRAIN
Loss of workers’ pay and concern about security of supply spell twin losses for South Africa and its people as the strike in the Rustenburg platinum belt enters its ninth week. No income for more than two months is asking far too much of loved ones. Even if the workers took over the Rustenburg platinum mines, they would not be able to afford to pay personnel a minimum entry-level wage of R12 500 a month. Nothing about this industrial action, which has left everyone floored, including the statutory body created to mediate and reconcile, makes sense. Thomson Reuters GFMS estimates that 800 000 oz of platinum has been lost to the strike, with 500 000 oz coming from unmined production to date and a further 300 000 oz to be lost as companies take months to return affected mines around Rustenburg to prestrike output levels, Business Day reported.
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