Possible wage deal at Implats

Johannesburg - The National Union of Mine Workers (NUM) said on Friday it may agree on a wage deal with Impala Platinum Holdings [JSE:IMP] after holding talks to avert a strike at the world's second-largest platinum producer.

"There was slight progress that has been made. The negotiators believe that they are very close together to each other and there must be a possibility that an agreement will be reached, possibly next week," NUM spokesperson Lesiba Seshoka told Reuters.

He could not immediately confirm if Implats had raised its offer at the meeting on Friday, which he said was requested by the company.

Implats had so far offered a 7.5% pay rise for workers in the high income bracket and 8 percent for those in the lower category. The NUM is demanding a 10% pay rise across the board and R1 700 in housing allowance.

Seshoka said further talks were planned for next week, especially after a vote had shown that members were split over whether to go through with a planned labour action.

A conciliator met Impala management and the NUM on Monday in a bid to avert the strike, which could harm output, but the talks collapsed after the company declined to raise its offer.

Africa's biggest economy has been hit by a wave of strikes and strike threats in both the private and public sectors this year that have led to above-inflation settlements, raising fears that the cost of living will rise.

South Africa's inflation rate slowed to 4.2% in June.

- Reuters