South African Platinum Miners End Strike

Posted November 15th, 2012 at 6:40 am (UTC-5)
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Striking miners in South Africa have returned to work at Anglo American Platinum, after a two-month work stoppage that crippled operations at the world's top platinum producer.

The company said Thursday production will not restart for at least a week while employees attend safety seminars.

Workers launched the strike in the September demanding higher wages amid a wave of similar actions by miners working for other companies in South Africa.

Anglo American, or Amplats, offered workers a one-time payment of $500 plus either an addtional $70 monthly allowance or a monthly salary increase of $45.

The company told investors Wednesday that its earnings this year will be 20 percent lower than last year.