Impala Platinum has managed to avoid a strike by its workers in South Africa after unions agreed to further discussions over a wage dispute, Bloomberg reports today (23rd August).

The National Union of Mineworkers (NUM) announced last weekend that up to 17,000 employees at the world's second-largest platinum producer could down tools tomorrow.

Although the NUM is seeking a 14 per cent pay increase - and Impala has so far offered a ten per cent rise - the industrial action was called off after talks that lasted until 01:00 local time this morning.

"The strike is suspended for tomorrow until we finish the consultation process with our members," NUM Spokesman Lesiba Seshoka told the news provider.

Inflation in South Africa hit 6.9 per cent in June, representing the lowest figure for 22 months and a significant fall on the record 13.7 per cent witnessed in August 2008.

Bob Gilmour, Spokesman for Impala, reaffirmed that the company will do everything in its power to avert a strike.

He told Bloomberg: "We don't want the strike. A strike is to the benefit of no one."

Wage discussions in South Africa - which supplied 76 per cent of global platinum output last year, according to Johnson Matthey - are watched with interest as a strike would inevitably impact production.

Source:

Impala Strike Off as Union Agrees to Discuss Offer (Update1) (23/08/09)

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