Lonmin miners reject pay offer

Strikers at platinum firm Lonmin’s Marikana mine rejected its increased pay offer today, quashing hopes that an end to the five-week long strike might be in sight.

Lonmin this morning presented a pay offer to the striking miners at Marikana, offering to increase their salaries to less than half their demanded basic wage.

The South African wildcat protestors had demanded a hike to 12,500 rand (£936) a month, from 4,600 rand a month. It is understood Lonmin has proposed a pay increase to 5,500 rand.

The strikes, which have struck much of South Africa's platinum belt, reached a peak last month when 44 people were killed by police. Earlier this week a man was found hacked to death by the Marikana mine.

Despite the unrest, Lonmin’s shares rose 7.17 per cent in lunchtime trading.