By JoAnne Pow!ers
The world’s top three platinum producers announced Thursday that they have reached an informal agreement with unionized South African Miners that could end the longest and costliest mining strike in the country’s history. 80,000 members of the Association of Mineworkers and Construction Union walked off the job in January, demanding a basic minimum wage increase of more than double for underground workers. The strike has crippled South Africa’s economy, costing mining companies more than two billion dollars in lost revenue. The union is putting the agreement to its members, and it is not yet clear if they will accept the proposed offer.
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