Reuters reported that on Thursday, a 9-percent wage offer from Anglo American Platinum Ltd. (OTCMKTS:AGPPY) and Lonmin plc (LSE:LMI) was rejected by South Africa’s Association of Mineworkers and Construction Union (AMCU).
As quoted in the market news:
A crowd of miners at a mass meeting near Lonmin’s Marikana mine reacted with boos and jeers when told about the offer, a fraction of the R12 500 a AMCU has been seeking.
A union official at Anglo American Platinum, the world’s top producer of the precious metal, said the mood there was also sour.
‘The miners were angry about the offer,’ AMCU branch manager Siphamandla Makhanya told Reuters.