Fin24 reports that Anglo American subsidiary De Beers said on Friday it was looking to secure a five-year wage deal with the National Union of Mineworkers (NUM).

This as union considered an offer amid the looming threat of a strike at the diamond producer’s Venetia Mine and its sorting and sales business. The NUM said on Tuesday it had begun a mobilisation process among its 1,500 members, with the union demanding a wage increase of 9%, while De Beers was offering 6%. The union added that members would not accept less than 9%, and had progressively moved down from a demand of 25%. After four months of talks, a dispute has been declared with the CCMA. De Beers said on Friday the only outstanding issue was wages. "We are confident that through continued engagement with the union and our employees we will reach a sustainable settlement with the NUM," it indicated.

• Read the full original of the report in the above regard compiled by Karl Gernetzky at Fin24
• Read too, De Beers upbeat that talks with union will avert strike at Venetia, at BusinessLive

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