LONDON--South African platinum miners confirmed Tuesday they
have signed a three-year wage agreement with the Association of
Mineworkers and Construction Union, bringing an end to a five-month
industry-wide strike.
Anglo American Platinum PLC (AMS.JO), Lonmin PLC (LMI.LN) and
Impala Platinum Holdings Ltd. (IMP.JO) reached an agreement with
the AMCU over wages and conditions of service, and employees are
expected to return to work Wednesday.
The wage agreement falls short of the union demand to nearly
triple all workers' entry-level salaries, but it will increase
annual pay by around 1,000 rand ($94) a month for a three-year
period, the AMCU said Monday.
The agreement starts retroactively from Oct. 1, 2013 and ends
June 30, 2016.
Write to Razak Musah Baba at razak.baba@wsj.com; Twitter:
@Raztweet
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