Thursday, May 15, 2014

Platinum Increases 2% on Supply Concerns

The Platinum price increased 2% overnight on the back of worsening supply concerns in South Africa as a result of increased union pressure on mine workers.

'We're headed for another Marikana'


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This is what the president of the Association of Mineworkers and Construction Union, Joseph Mathunjwa warned yesterday, despite police rolling into the platinum belt to protect mineworkers who have had enough of the nearly four-month-long strike.

Addressing about 4000 workers at Wonderkop Stadium in Marikana, in the North West, Mathunjwa made it clear that miners opting to report for work were on their own.

"Don't allow anything to push you to go to work. We have come a long way . if we listen to the SMS [from mining companies urging workers to return to work] there will be trouble among us," he said.

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