South Africa Diamond Strike Ends

Posted August 4th, 2011 at 4:25 pm (UTC-5)
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More than 1,300 diamond miners are headed back to work in South Africa after negotiating raises up to 10 percent.

International diamond giant De Beers said Thursday the two-week strike was its first in nearly two decades.

The company said in a statement entry-level workers would receive the 10-percent wage hike while more skilled workers would get an eight percent pay raise. That is about double South Africa's inflation rate, which was five percent last month.

Workers are expected back in the four affected mines as early as Friday.

CEO Phillip Barton said despite the strike, the company had met its production targets with remaining employees and using contingency plans. But he said there is “no doubt” that the strike had an impact on production, and said this will have to be addressed if the company will meet its targets for the rest of the year.