RUSTENBURG, South Africa, June 23 (Reuters) – South Africa’s AMCU union declared a five-month platinum strike “officially over” on Monday as thousands of miners roared their approval when leader Joseph Mathunjwa asked if they wanted to end the longest work stoppage in the country’s history.
“Yes! Yes!” the miners chorused as the union boss asked whether they wanted to accept the wage offers from producers.
“The strike is officially over,” Mathunjwa then shouted back, to unrestrained jubilation from the tens of thousands of workers packed into Rustenburg’s Royal Bafokeng Stadium, one of the venues for the 2010 soccer World Cup.
The spot price of platinum fell 1 percent, the rand firmed nearly 1 percent against the dollar to two-week highs and the London-listed shares of number three producer Lonmin rose as much as 7 percent.
The precious metal’s two biggest producers, Anglo American Platinum and Impala Platinum, are listed on the Johannesburg stock market. It had closed by the time Mathunjwa finished his two-hour-long speech, but their shares closed up 1.6 percent and 1.1 percent respectively.
Mathunjwa said wage deals would be signed on Tuesday and workers would start reporting for duty the following day, ending industrial action that started on January 23 – five months ago to the day.
Industry sources said they could not confirm signings would take place on Tuesday but expected workers to return this week.
“I’m very glad the strike is over, because we made a terrible wound in the South African economy and we are happy to heal that wound. Our children are suffering because they had no food,” said Lucas Makgwe, a miner at Amplats.
“HISTORIC DAY”
Mathunjwa, a Salvation Army lay preacher who casts himself as a class warrior doing battle for downtrodden black miners whose lives have changed little in the 20 years since apartheid ended, was exultant.
“Today we are creating a historic day in the mining sector,” Mathunjwa, clad in a trademark AMCU green shirt, told the crowd.
“The platinum sector will never be the same. What other unions have failed to do over many years, you have achieved in five months.”
Under the populist battle cry of a “living wage”, AMCU had initially demanded that basic wages be more than doubled immediately to 12,500 rand ($1,200) a month. In the end, its members settled for three-year deals that amount to monthly increases of around 20 percent, or 1,000 rand a month.
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