From Business Week.
South Africa’s National Union of Mineworkers reached an agreement with De Beers, the world’s biggest diamond producer, preventing a strike that was scheduled to start Friday.
De Beers agreed to a 9 percent pay raise across the board. Workers had requested 13 percent.
Strikes had been planned at the Voorspoed operation in Free State province, Kimberley in Northern Cape province, Venetia in Limpopo province, and the company’s trading arm, Diamond Trading Co., the union said in an earlier report.
De Beers, a unit of London-based Anglo American Plc and the union agreed to two extra days of leave. Talks previously had been at a standstill.
De Beers Consolidated Mines has 2,550 workers.
Read more at Business Week.