De Beers, NUM Agree to 12% Wage Increase, Averting Strike

De Beers announced Thursday that it has reached a wage agreement with the National Union of Mineworkers (NUM) in South Africa, according to news reports. NUM was preparing to strike over a wage dispute after rejecting De Beers’ offer for an 11 percent wage increase over two years and demanding the mining firm provide a 13.5 percent pay raise.

The deal guarantees an increase of 12 percent, a move that has succeeded in averting the strike, which NUM estimated would involve thousands of De Beers employees, who are members of the union.