Mining News

Sibanye says unions using gold strike to leverage platinum deal

Sibanye-Stillwater said the almost two-month long strike at its South African gold mines is being used as leverage by labor unions for upcoming wage negotiations at its platinum operations. South African miners, including Anglo American Platinum Ltd. and Impala Platinum Holdings Ltd., are entering pivotal talks over a multiyear pay deal after announcing record dividends following a rally in palladium and rhodium prices. While unions are seeking a share of the windfall profits, producers have warned that any settlement with 163,000 platinum workers must not risk the long-term viability of a key export industry.

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