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ANALYSIS-Food, fuel to stoke S.Africa mine wage talks

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xchrom Donating Member (1000+ posts) Send PM | Profile | Ignore Wed May-25-11 12:08 PM
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ANALYSIS-Food, fuel to stoke S.Africa mine wage talks
http://af.reuters.com/article/southAfricaNews/idAFLDE74511020110524

JOHANNESBURG May 24 (Reuters) - South African mine companies are again likely to be forced into settlements above the main rate of inflation as they tackle union wage demands given impetus by accelerating food and fuel prices.

Organized labour in South Africa, which has been growing increasingly militant, is seen in no mood to compromise as commodity prices ride high on international markets.

"I wouldn't be at all surprised to see higher wage demands based on commodity prices as well as food and fuel inflation," said Paul Bugala, senior sustainability analyst at U.S.-based Calvert Investments.

South Africa's powerful National Union of Mineworkers has fired its opening shots for the next round of wage talks, demanding a 14 percent, one-year wage increase across the board from gold and coal miners and a similar increase from Impala Platinum, the world's second largest platinum producer.
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