SA Gold Miners Satisfied

The nationwide strike of South African gold miners is officially ended. The National Union of Mineworkers and Solidarity trade union have agreed to a pay increase of between 6% and 7%.

Around 110,000 South African miners accepted the offer and asked their members to resume work. NUM was the first to call off its strike, and should resume work on Thursday night. Solidarity said its members should be back at work on the Friday morning shift.

South Africa accounts for about 15% of global gold output and a prolonged strike could have played havoc with the gold price.