Sept 8th - South Africa's Implats Workers End Strike

http://online.wsj.com/article/SB125240487590591991.html

By Matthew Walls

8 September 2009

06:20

The Wall Street Journal Online

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LONDON -- Strikes over wages at two Impala Platinum Holdings Ltd. platinum mines in South Africa have ended and workers have returned to normal production shifts, a company official said Tuesday.

About 50,000 troy ounces of platinum were lost because of the strikes at Rustenburg and Marula, said Johan Theron, a human resources executive at Implats.

"The workers have accepted our offer and they've all returned to work," Mr. Theron said.

Production resumed at Rustenburg Monday night and Friday at Marula.

Unionized workers will get a 10% wage increase across-the-board, and the new agreement will raise the minimum wage for underground workers to 5,000 rand a month, and includes a medical subsidy, Mr. Theron said. The National Union of Mineworkers was pushing for a 14% wage increase.

Mr. Theron said the company lost 12 full production days at Rustenburg and five days of production at Marula, he said. He added that full production will be reached in a couple of days.

Impala is the world's second-largest platinum producer, with an output of 1.9 million platinum ounces in its 2008 financial year.

Write to Matthew Walls at matthew.walls@dowjones.com

Source :

http://online.wsj.com/article/SB125240487590591991.html