The South African National Union of Mineworker's (NUM) has announced that it has managed to agree a wage offer with the world's biggest platinum producer, Angloplat.

The Johannesburg-based union announced that the deal with firm had been reached with the help of government mediators.

A meeting that went on until late on Thursday resulted in the accepted offer, breaking a previous deadlock.

NUM official Archie Palane told Reuters: "We agreed the wage deal late last night. We haven't released the details yet because the agreement is not yet ratified by the steward council, who will be briefed on Monday before we can disclose the details."

Mr Palane added that the deal agreed with Angloplat was even better than one negotiated with Implats after strike action last year.

Angloplat has 40 per cent of global platinum output and employs around 46,700 workers and the latest deal could end concerns about strike action in the platinum market.

Ÿ Adfero Ltd