RUSTENBURG, South Africa (Reuters) - South Africa's AMCU union rejected a 9 percent wage offer on Thursday from leading platinum producers, prolonging a week of industrial action that has combined with a severe emerging market sell-off to push the rand to five-year lows.
The strike has hit around 40 percent of the global supply of platinum, used in catalytic converters in cars, and magnified concerns about the trade deficit in Africa's largest economy due to its impact on a big source of foreign exchange.
Already a subscriber? Log in.
Win a prize this Mother's Day by subscribing to our annual plan now! T&C applies.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
