S.Africa's strike-hit platinum miners table new wage offer

Two of the world's top platinum producers, Anglo American Platinum and Impala Platinum, on Thursday announced a new wage offer to end a 12-week strike in their South African mines.

The proposal from the two miners would push the minimum wage to the 12,500 rand ($1,200) demanded by unions by July 2017.

The firms had initially rejected the demand by the militant Association of Mineworkers and Construction Union (AMCU), threatening job losses as the strike waged on.

Over 80,000 workers downed tools across South Africa's platinum industry on January 23, vowing not to return to the shafts until their minimum monthly wage was doubled.

Impala Platinum said in a statement "the proposed increases will ensure that the minimum cash remuneration for entry level underground employees will rise to 12,500 (rand) by July 2017."

The union has been demanding the wage increase since a violent strike in 2012 when 34 mine workers were killed by police in Marikana.

Anglo American Platinum (Amplats), Impala Platinum (Implats) and Lonmin -- the world top three platinum producers -- had insisted the demands were unrealistic and would put mines out of business.

"Anglo American Platinum urges AMCU and its members to seriously consider this offer," said the company in a statement.

Amplats said it had lost approximately 225,373 ounces of platinum in the last 12 weeks of the strike.

Lonmin, which was also affected by the strike, is now the only company that has not presented a settlement.

Intermittent wage strikes since 2011 have plagued the platinum industry in South Africa, which holds around 80 percent of the world's known reserves.

AMCU could not be reached for comment on the new settlement. Talks between the union and producers were scheduled to resume on Tuesday.