Eskom Holdings SOC Ltd. said South Africa’s power system will remain constrained until the end of the month even as the utility told its biggest clients to cut use by 10 percent for a second day in a bid to avoid blackouts.
The outcome of a wage dispute at Northam Platinum Ltd., where a South African strike is in its third week, will set a precedent for the industry’s largest producers, Investec Plc and Stanlib Asset Management said.
The largest union at Anglo American Platinum Ltd.’s South African mines got permission to strike after a mediator failed to resolve a wage deadlock between the labor group and the world’s biggest producer of the metal.
The largest labor union at Impala Platinum Holdings Ltd. cut its wage-increase demand by 31 percent as the parties worked toward avoiding a possible strike, the world’s second-largest producer of the metal said.
Rising costs and falling prices may prompt South Africa’s largest platinum mines to stare down a union threat to halt 70 percent of global production over pay demands, pushing the industry toward a prolonged strike.
The Association of Mineworkers and Construction Union, the largest labor group at Impala Platinum Holdings Ltd.’s South African operations, said its members voted to go on strike at the world’s biggest platinum mine.