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Two of four South African unions representing labor at wage talks with gold producers are holding out for a revised offer by the companies before deciding on whether to declare a strike.
The NUM has asked for a 60 percent increase in wages for entry-level jobs. South Africa’s annual inflation rate was 6.3 percent in July. Strikes could cost the gold industry 349 million rand ($34 million) a day in revenue, according to the chamber.
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