South African platinum miners on Thursday began a strike that threatens to cripple production at the world's three top platinum producers, dpa reported. The trade union Amcu said its 70,000 members would remain on strike until their pay demands are accepted. The union is demanding an entry-level monthly "living wage" of 12,500 rand (1,143 dollars), double what the miners currently earn. The mining companies Anglo American Platinum, Impala Platinum and Lonmin Platinum say they cannot afford the increase as they grapple with increased costs and lower metal prices. South Africa has more than 80 per cent of the world's platinum reserves and is the fourth-biggest gold exporter.
