Lonmin workers have been offered an additional one-time payment in exchange for them returning to work at the platinum mining company on Wednesday.
A letter written by Lonmin directors to its workers is believed to have offered a 1,500 rand ($182, 140 euro) bonus in addition to an offer for an increased monthly wage of 1,875 rand ($227). The bonus will only be given if workers return on Wednesday.
On Monday the strikers agreed to reduce their monthly salary demands of 12,500 rand for the first time, down to 11,000 rand.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Journalists are now reportedly being barred from entering the Marikana stadium where a mass gathering of the strikers has been organised to allow the union leaders to report back to the workers and make a decision.
In a statement released on Monday morning, the company says the number of people who have died in clashes since the strikes began at its Marikana facility on August 10th has risen to 45, with the discovery of the body of a 51-year-old worker last week.
The net result of the industrial action is that sales will come in at between 685,000 and 700,000 ounces of platinum by the year end in September. Unit costs will rise 8.5%.
The share price fell 2.62% to 632p by 13:49.
NR
