Amplats Sues Platinum-Strike Union as Talks Stumble Andre Janse van Vuuren and Paul Burkhardt, Bloomberg, [USA], 14 February 2014 Anglo American Platinum (AMS) Ltd. is suing a South African union that is on strike at the world's largest producers of the metal and said pressure is growing on the labor group over its three-week walkout. More than 70,000 Association of Mineworkers and Construction Union members have been on strike since Jan. 23 at Anglo American Platinum, Impala Platinum (IMP) Holdings Ltd. and Lonmin Plc. (LMI) They are demanding that monthly wages for the lowest-paid underground workers be more than doubled. Amplats, as the Johannesburg-based company is known, is suing the AMCU for 591 million rand ($54 million), spokeswoman Mpumi Sithole said today in an e-mail. The company is claiming for damage to property, increased security costs and production losses caused by non-striking employees being prevented from going to work, Sithole said. Combined lost revenue at the three companies has reached about $315 million, with strikers giving up $140 million in pay, a spokesman for the producers said in a statement today. South Africa accounts for about 70 percent of global production of the metal used in jewelry and catalytic converters for vehicles. From: http://www.bloomberg.com/news/2014-02-14/impala-says-prepares-for-platinum-p ay-strike-to-last-until-may.html -- -- You are subscribed. This footer can help you. Please POST your comments to [email protected] or reply to this message. You can visit the group WEB SITE at http://groups.google.com/group/yclsa-eom-forum for different delivery options, pages, files and membership. To UNSUBSCRIBE, please email [email protected] . You don't have to put anything in the "Subject:" field. You don't have to put anything in the message part. All you have to do is to send an e-mail to this address (repeat): [email protected] . --- You received this message because you are subscribed to the Google Groups "YCLSA Discussion Forum" group. To unsubscribe from this group and stop receiving emails from it, send an email to [email protected]. For more options, visit https://groups.google.com/groups/opt_out.
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