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Johannesburg - South Africa's Chamber of Mines, which negotiates on behalf of the country's gold producers, said on Thursday it had made an opening offer of a 5% wage increase against a demand of 15% by unions.
South African workers in the gold industry have demanded pay increases nearly double the inflation rate, which is at 8.5%, citing the strong price of the metal despite the financial crisis, setting the stage for tough wage talks.
Wage talks in South Africa's gold sector are watched closely by markets because there is a chance of disruption in output should the workers go on strike as has happened in the past.
- Reuters