Platinum miners, union in talks to end massive strike

|By:, SA News Editor

South Africa's Association of Mineworkers & Construction Union has started government-brokered pay talks with the world's three largest platinum producers in order to end a strike of up to 100,000 workers.

The strike, which is affecting over half of the world's platinum output, is in its second day and is threatening to turn violent.

The meeting marks the first time that the AMCU has met with Anglo American Platinum (AGPPY), Impala Platinum (IMPUY, IMPUF) and Lonmin (LNMIF, LNMIY) under one roof.

Platinum futures are -1% at $1,449.15 an ounce.

ETFs: PPLT, PTM, PGM.