One clear point to come from Anglo American Platinum (https://www.sharenet.co.za/v3/quickshare.php?scode=AMS)’s interim results presentation is that there is a vast gulf between the demand and offer in the coming wage talks.

While Amplats, a leading source of platinum group metals, posted strong results, recording strong cash flows, a threefold increase in profit and a healthy cash holding, it has come through a very difficult time.

More than 15,000 jobs have been cut, mines sold and investments made in mechanising and improving its remaining mines to be able to survive prolonged low prices...