South Africa: Labor unrest in mining industry to negatively impact economy – Finance Minister

At Impala, the union scaled back its demand late last year to just over 8,500 rand (US$816) a month.

The NUM said on Friday it had accepted overall wage increase offers of between 9.8 and 11.8 percent from mid-tier platinum producer Northam Platinum in a bid to end a 75-day strike by more than 7,000 miners.

Companies have said they can ill afford steep increases as power and other costs soar while prices for platinum, used in pollution-reducing automobile catalytic converters, remain depressed.

Source: Reuters

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