The world’s three largest platinum producers are meeting with union officials to try to end South Africa’s longest mining strike after talks yesterday following an increased pay offer failed to break the three-month deadlock.
South African Defense Minister Nosiviwe Mapisa-Nqakula said the deployment of troops to help end conflicts and promote peace on the continent in the past 16 years has put the department under financial strain.
The Association of Mineworkers and Construction Union should accept South African platinum producers’ latest pay offer to end a three-month strike, said analysts at JPMorgan Cazenove and Investec Asset Management.
Emerging-market stocks fell to a one-week low after a Chinese manufacturing gauge signaled a fourth month of contraction in the world’s second-biggest economy. Indonesia’s rupiah weakened the most in a month.