The world's top platinum miners are bracing for a fresh round of negotiations with South African workers as a rise in profits is likely to provoke higher wage demands from labour unions.
An illegal strike that led to the dismissal of over 600 employees at the Mototolo mine run by Anglo American Platinum has been resolved and the workers will be reinstated.
The deal, approved by shareholders on Tuesday, creates a company that will eclipse Anglo American Platinum Ltd. as the world’s biggest platinum miner and will rank second to Russia’s MMC Norilsk Nickel for palladium output.
Bavura Holdings, in which Nigerian billionaire Benedict Peters is a major shareholder, would sign an agreement to mine platinum on Zimbabwe's mineral-rich Greak Dyke.
