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stockgod3on May 25, 2016 9:52pm
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RE:Upcoming Labor Negotiations Might Boost Copper, Platinum
RE:Upcoming Labor Negotiations Might Boost Copper, Platinum
Upcoming Labor Negotiations Might Boost Copper, Platinum https://oilprice.com/Metals/Commodities/Upcoming-Labor-Negotiations-Might-Boost-Copper-Platinum-Prices.html The worlds #1 producing nations for platinum and copper are facing a common problem this week. And latest developments suggest this issue could be a potentially explosive one. The challenge is labor negotiations in the mining sector. With both the worlds top platinum miner South Africa, and top copper producer Chile facing tough talks with strong local unions. South Africas powerful platinum mining group Association of Mineworkers and Construction Union (AMCU) said last week it is beginning internal meetings as of last Thursday. To decide on pay demands the union will put to platinum mininng companies during upcoming wage talks. Related: Key Pipeline Could Unleash Albertas Oil Sands The AMCU demands will be critical for South Africas platinum sector. With the union being the largest in the industry serving major miners including Anglo American Platinum, Lonmin, and Impala. The union is meeting now because its current two-year pay agreement with those companies expires at the end of June. Which means the next several weeks are likely to see some intense negotiations especially given that the last round of wage talks in 2014 ended in a 5-month strike that crippled South Africas platinum sector. At the same time, Chiles copper sector is facing a similar issue. With the countrys national mining body Sociedad Nacional de Minera (Sonami) Read more at https://www.stockhouse.com/companies/bullboard/tck#S8kWisDdhStbV3g6.99