South African gold miners returning to work after accepting pay raise

Some striking South African gold miners returned to work last night after accepting an 8% pay increase from companies including AngloGold (AU +2.6%) and Sibanye Gold (SBGL +3.6%).

The offer has been accepted by most members of the National Union of Mineworkers, which represents two-thirds of the country's gold miners.

However, 10 of Harmony Gold’s (HMY -0.6%) 11 mines continue to be affected by the strike, and workers at Gold Fields' (GFI +1.3%) South Deep mine also aren’t yet back at work, but they may report for duty later today.

AU’s six mines report normal shifts, and two of SBGL’s three sites are operating with the remaining mine expected to resume tonight.

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