Zimbabwe Mine Closure a Red Flag for Platinum Producers

Platinum CC US Geological Survey

Platinum miners have been increasingly eyeing Zimbabwe as a possible new location to focus mining operations following the debilitating five-month platinum strike in South Africa, one that very nearly brought platinum producers to their knees.

The militant Association of Mineworkers and Construction Union in South Africa went on strike in February, demanding that Anglo American Platinum, Impala Platinum, and Lonmin more than double wages for entry-level workers laboring in platinum mines. The strike finally came to an end in late July, with the union securing an increase of 1,000 rand for the first three years for lower-level employees and wage increases of 7.5% to 8% for higher-ranked workers.

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