AMCU calls end to South Africa platinum mining strike

23rd Jun 2014 22:11

A five-month miners' strike in South Africa could soon come to an end after a union leader announced on Monday that wage disputes were "officially over".The industrial action, which began in January, is estimated to have cost platinum mining groups Anglo American Platinum (Amplats), Impala Platinum (Implats) and Lonmin at least 16.4bn rand (£0.9bn) in lost revenue, according to Lonmin last month.As of May 6th, the strike had also cost employees some R7.3bn (£400m) in lost income.Following an "in principle agreement" which was reached between the companies and the Association of Mineworkers and Construction Union (AMCU) last week, AMCU leaders held a meeting with its members on Monday.Joseph Mathunjwa from AMCU addressed thousands of workers in South Africa and was greeted with cheers when he asked if a deal should be signed."AMCU makes a difference. You made history with the strike. Your strike is ranked the third-longest strike in the world," he said.Lonmin had said in a statement on Monday afternoon that "further progress towards a return to work has been made".BC