Wednesday, July 11, 2007

Impala Platinum Pay Talks With Union Fail, State Mediation Is Sought

(Bloomberg) -- Impala Platinum Holdings Ltd.'s pay
talks with a South African labor union failed after workers
refused to accept a two-year agreement offered by the company, a
union official said. State mediation will now be sought.

While willing to accept Impala's offer to boost pay 8
percent to 10 percent this year, workers were unhappy with the
offer for a 7 percent to 8 percent raise next year depending on
job grade, Eddie Majadibodu, a negotiator for the National Union
of Mineworkers, said today in an interview from Rustenburg,
northwest of Johannesburg.


Read more at Bloomberg Emerging Markets News

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