The world’s biggest platinum producers face a dilemma: they’re reporting bumper profits just as they enter negotiations with labor unions over a three-year wage deal. That surge in earnings has been fueled by higher prices for palladium and rhodium, which are mined alongside platinum in South Africa. Noting the buoyancy of the market, the Association of Mineworkers and Construction Union has asked for a pay increase of as much as 48%. Satisfying that demand will lead to job losses and mine closures, companies say.
