Amcu

  • Since when did the right to strike become more important than the right to work?
  • South Africa is heading down a dangerous path. One described as rampant and uncontrolled unionism that if not halted, will become unaffordable. For five months, Amcu lead crippling strikes in the platinum sector. A strike that won workers about R36,000 over three years, but cost them R52,000 in lost wages. Then as soon as the platinum strike ended, NUMSA announced it would strike. And alr... ››› more
  • [15 July 2014]
  • The biggest value bet in the last decade is about to pay off
  • After five months of strikes, yesterday Amcu signed the new wage agreements with the big platinum mining companies. This deal secured wage rates for the next three years. And right now, this deal will be the catalyst for a massive profit opportunity for value investors. Let me explain. Platinum profits have been hit, but the value is still there Although the strike has ended, a... ››› more
  • [24 June 2014]
  • An end to the platinum sector strike firms up the rand
  • Yesterday afternoon, news emerged that the five-month long strike in the platinum sector was over. The Association of Mineworkers and Construction Union (AMCU) and the top three platinum producers finally agreed a new three-year deal. The rand strengthened on the news. And this morning the rand continues to hold its gains. Let's take a closer look at what's going on… The rand rallied 1% on ne... ››› more
  • [24 June 2014]
  • The five month strike in the platinum sector is finally over
  • Late yesterday afternoon came the news that finally the platinum sector strike was over. The Association of Mineworkers and Construction Union (AMCU) is set to sign the new agreements today. And all going well, striking employees will return to work tomorrow. Let's take a closer look at what's going on… The AMCU agrees to sign the new deal The AMCU’s has “officially declared an end to th... ››› more
  • [24 June 2014]
  • After five months, the platinum strike could be over in days
  • Today marks five months since members of the Association of Mineworkers and Construction Union (AMCU) began strike action against the three largest platinum producers. It looks like the strike is finally coming to an end as the AMCU presents new offers to its members today. An agreement will see the longest strike in South African history come to an end. Let's take a closer look at what's going on... ››› more
  • [23 June 2014]
  • The Labour Court rules the AMCU cannot strike in the gold sector
  • In January, the Association of Mineworkers and Construction Union (AMCU) attempted to down tools at three gold producers as it began strike action in the platinum sector. The affected gold producers took the AMCU to court over the matter. They obtained an interdict preventing the AMCU from striking. Today, the Labour Court made the order permanent. Let's take a closer look at what's going on… ... ››› more
  • [23 June 2014]
  • Just when the platinum sector strike looked to be ending…
  • …The union appears to change its demands. This follows the Association of Mineworkers and Construction Union (AMCU) and the platinum producers agreeing ‘in principle' to a resolution at the end of last week. But now it's emerged that the union has issued further demands. An end to the lengthy strike is starting to look further away. Let's take a closer look at what's going on… The AMCU is... ››› more
  • [18 June 2014]
  • An end to the platinum sector strike could still be weeks away
  • At the end of last week came the good news that the platinum producers and the Association of Mineworkers and Construction Union (AMCU) were on the brink of an agreement. It appeared the union just had to run the new deal past its members. But as the long weekend has passed, a deal is no closer. So what's going on? Let's take a closer look… Platinum producers and the AMCU have yet to finalise... ››› more
  • [17 June 2014]
  • The platinum producers wait for a decision over the strike
  • At the end of last week, hopes that the long standing strike in the platinum sector could be drawing to a close were rising. The Association of Mineworkers and Construction Union (AMCU) were finally taking an offer back to their members for consideration. But as the weekend neared an end, there was still no news on a decision. Let's take a closer look at what's going on… Is no news good news ... ››› more
  • [16 June 2014]
  • The platinum sector strike is finally nearing an end… but at what cost?
  • Yesterday marked a breakthrough in the near five month long strike in the platinum sector. After members of the Association of Mineworkers and Construction Union (AMCU) downed tools at the world's top three platinum producers on 23 January, it looks like it's just a matter of time before the strike will end. Let's take a closer look… The AMCU is close to accepting the new wage offer The pres... ››› more
  • [13 June 2014]
  • The AMCU's president will address members today as strike continues
  • As the platinum sector strike edges closer to five months long, today the president of the Association of Mineworkers and Construction Union (AMCU) is to meet with striking members in Rustenburg. As well as the economic effects of the platinum strike, the people in the area affected by the strike are really bearing the brunt. Let's take a closer look at what's going on… Where to now for the s... ››› more
  • [12 June 2014]
  • The palladium price climbs as supply fears grow
  • Today, marks 20 weeks to the day since the strike by members of the Association of Mineworkers and Construction Union (AMCU) downed tools over wage demands at the world's top three platinum producers. The price of palladium has been rising steadily since the beginning of the strike. And this week, the metal showed a spectacular rally. Let's take a closer look at what's going on… The palladium... ››› more
  • [12 June 2014]
  • Jobs could be on the line as the platinum sector strike nears 20 weeks
  • Tomorrow marks 20 weeks since members of the Association of Mineworkers and Construction Union (AMCU) downed tools at the world's top three platinum producers. And despite numerous interventions and mediators along the way, the strike looks no closer to an end. The situation is edging on desperate. And now job losses could become a reality of the lengthy stoppage. Let's take a closer look at what'... ››› more
  • [11 June 2014]
  • The AMCU's case for a strike at gold producers goes ahead today
  • Back in January, the Association of Mineworkers and Construction Union (AMCU) had to stop its plan to strike at three of the country's gold producers. The gold producers obtained a court interdict to prevent the strike. The case is in court today. Let's take a closer look at what's going on… The AMCU must provide reasons for the interdict’s removal In March, the union and the Chamber of Mi... ››› more
  • [05 June 2014]
  • The AMCU sticks to its guns after rejecting the platinum producers' latest offer
  • After some encouraging signs this week, it's emerged that the Association of Mineworkers and Construction Union (AMCU) has rejected the latest offer on the table. This happens a week after the new mining minister intervened to try to bring the lengthy strike in the platinum sector to an end. The union is sticking to its original demands. Let's take a closer look at what's going on… The AMCU r... ››› more
  • [05 June 2014]
  • Is the platinum sector strike drawing to a close?
  • Finally it's looking hopeful that the strike in the platinum sector could be nearing an end. The new mining minister, who took his position last week, made it his number one priority to try and resolve the strike. The stoppage is now in its fifth month. And it's not just the mining minister who is hopeful, the striking union is also positive about recent talks. Let's take a closer look at what's g... ››› more
  • [04 June 2014]
  • The strike stricken platinum producers' shares rally as talks get underway
  • This morning, the Association of Mineworkers and Construction Union (AMCU) and the world's top three platinum producers resumed talks to try and bring an end to the near four month long strike. The market took the talks as a hint that the strike could come to an end soon with two of the producers rallying. Let's take a closer look at what's going on… New wage talks began this morning At 1... ››› more
  • [21 May 2014]
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