Lonmin clinches pay deal with its miners

City A.M. Reporter
MINERS at Lonmin’s Marikana yesterday accepted a 22 per cent pay rise from the platinum firm, and said they would return to work this morning following a strike that has crippled the London-listed company since 10 August.

Last week, Lonmin offered the miners around 5,500 rand (£413) a month, up from 4,600 rand a month.

Lonmin hopes the deal will end six weeks of violent labour unrest that killed 45 people and rattled South Africa. However, analysts said yesterday the lucrative deal could spark anger about wages at other mines in the country.