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Num rejects Lonmin offer, eyes strike

Nov 15 2011 17:19 Reuters

Company Data

Lonmin plc [JSE:LON]

Last traded 32.05
Change -0.83
% Change -0.03
Cumulative volume 1857945
Market cap 18.29bn

Last Updated: 22/10/2014 at 04:23. Prices are delayed by 15 minutes. Source: McGregor BFA

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Johannesburg - The National Union of Mineworkers (Num) on Tuesday rejected a wage hike offer from Lonmin [JSE:LON] and said it was moving closer towards launching a strike at the platinum miner’s operations.

Num spokesperson Lesiba Seshoka said in a statement that Lonmin had offered to increase wages by 0.5%.

“The Num has rejected these offers with the contempt it deserves and feel that it is moving towards industrial action at Lonmin,” said Seshoka.

He said the union had lowered its demand to an 11% increase, from 12% previously. The union is also disputing the company’s offers on housing allowances and medical aid subsidies for workers’ children.

The two parties are due to meet again next Tuesday, Seshoka said.
lonmin  |  num  |  wage dispute
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