Amcu accepts offer ‘in principle’

Mining union Amcu has accepted in principle a new wage offer on the platinum belt, its leader said on Friday.

“In principle we have agreed to the offer. There are still issues that we need to consult with the employer,” Association of Mineworkers and Construction Union (Amcu) leader Joseph Mathunjwa told Sapa by phone.

Amcu and platinum mining companies Implats, Amplats and Lonmin were expected to meet again on Friday. The three companies say they have lost R22.9 billion in revenue since the strike started January 23 and that employees have forfeited R9.9bn rand in wages.

The deadlock in the country that accounts for about 70% of platinum mined globally pushed its economy into contraction in the first three months of 2014.

However, according to other press reports, by the end of yesterday (Monday), nothing had been finalised.

Impala Platinum, for example, had said that talks with Amcu were still continuing and no agreement had yet been signed. And Mathunjwa had said that there were still issues that needed to be resolved before the union could sign the deal and call off the industrial action.