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THE R25 THAT AVERTED A STRIKE

22nd April 2016

By: Martin Creamer

Creamer Media Editor

  

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The Association of Mineworkers and Construction Union (AMCU) demanded big on the platinum belt – R12 500 a month entry-level wage or the strike would continue. And it did, for five long months. In gold, AMCU has been infinitely more moderate and its strike threats exceedingly short-lived. An additional R25 a month – yes, in dollar terms a mere $1.60 a month – did the trick. Always something new out of South Africa. Who knows what went on between Sibanye CEO Neal Froneman and AMCU president Joseph Mathunjwa, but we will take it nonetheless. At this point in time, anything’s better than a strike, especially in gold, where the rand price is soaring beyond R600 000/kg.

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