Lonmin offers S.Africa's AMCU 7.5-9.0 pct wage increase
JOHANNESBURG, Jan 30 (Reuters) - World No. 3 platinum producer Lonmin (LSE: LMI.L - news) has revised its wage offer to South Africa's Association of Mineworkers and Construction (AMCU), which has been striking over wages for a week, a company document showed.
The new offer provides for increases ranging from 7.5 percent to 9 percent in year one of the proposed three-year agreement, falling far short of AMCU's demands for a 12,500 rand ($1,100) per month "living wage".
AMCU will take the offer to its members on Thursday, but it is unlikely to get approval as the deal does not meet the union's demands, dashing hopes of an end to a strike that has hit over 40 percent of global platinum production.
Anglo American Platinum and Impala Platinum (Other OTC: IMPUF - news) have also been affected by the strike.
AMCU chief negotiator Jimmy Gama told reporters on Wednesday the union was not satisfied with the offer.
The 12,500 rand a month demand would be more than double current pay levels - an increase the three companies say they cannot afford.
The companies had previously offered 7.5 to 8.5 percent.