Gecamines offers $1 million to block Chinese deal with cobalt miner Chemaf
Chemaf agreed to sell its assets to Chinese defence and industrial giant, China North Industries Corp, or Norinco in June.
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
