Zimbabwe central banker stockpiles gold to bolster ZiG currency
The ZiG - short for Zimbabwe gold — is the nation’s sixth attempt at having a functioning local currency in the last 15 years.
Striking miners at Lonmin’s Marikana platinum mine rejected a 20% wage increase offer from the company. The offer increases the base pay of an entry level worker to around ZAR 5,500 (USD 660) up from ZAR 4,600 (USD 557.5) at present.
The workers said the proposed offer is well short of the ZAR 12,500 they have demanded. Negotiations on the offer were scheduled to resume at 10:00 GMT.
“It’s a very unpredictable situation. In normal negotiations you go there knowing that it is give and take. In this instance it’s difficult for us to predict the reaction,” said National Union of Mineworkers (NUM) General Secretary Frans Baleni.
Source (English): Moneyweb
