South Africa gold miners set to strike

|By:, SA News Editor

South Africa's National Union of Mineworkers will give gold producers on Friday 48-hour notice of its intention to strike over deadlocked wage talks, Reuters reports.

Negotiators on behalf of gold producers said yesterday it had made a final offer to riase basic wages by 6%-6.5%, depending on activity, which the union rejected.

The companies say steeper increases are unrealistic, as their operations are being hurt by rising costs and falling bullion prices.

AngloGold (AU), Gold Fields (GFI) and Harmony Gold (HMY) lost 5.1%, 4.6% and 4.9%, respectively.