Mining giant loses R100 million a day in strike

Mining giant Anglo American Platinum is losing about R100 million a day because of a strike by Amcu which entered its fourth week on Monday. "The company is losing 4000oz amounting to R100m in revenue daily," said Amplats spokeswoman Mpumi Sithole in an e-mail. Amplats on Saturday said it was suing the Association of Mineworkers and Construction Union (Amcu) for damages and losses suffered over their work stoppage. Amplats was seeking R591m but this could rise if damages continued, said Sithole. "The provisional quantum of the damages claim is about R591m, although as Amcu's wrongful conduct is continuing, the damages will continue to accrue," she said. Members of the Amcu at Lonmin, Amplats, and Impala Platinum embarked on a strike on January 23, demanding a R12 500 basic salary for miners. The platinum producers proposed a three-year agreement last month. The proposal was a nine percent increase for A-level workers, 8.5 percent for B-level, and 7.5 percent for C-level workers in the first year. The CCMA has been mediating talks between the union and the platinum companies since January 24.