Investors consider the metal a safer investment option over current equity markets
The reason that would have led to a probable strike by the De Beer’s miners in South Africa has been settled. During a meeting last evening, the De Beers’ management agreed to increase the pay scales of the miners by 8.5% to 10%, according to the miner’s role; having earlier offered 8%.
The NUM ( union of the miners) had demanded an 11% pay rise. With this agreement, NUM on its part announced that 3,350 workers would resume work as usual.
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