S. African strikers march in wages protest

JOHANNESBURG, South Africa (Reuters) -- Hundreds of striking miners at the world's top platinum producer Anglo American Platinum (Angloplat) marched on the firm's headquarters on Wednesday to press for higher wages and better working conditions.

An estimated 500 placard-carrying miners were bused into central Johannesburg from Angloplat's mining sections as the strike dragged into its 24th day.

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Police took positions outside Angloplat's headquarters in the city center but there were no incidents reported.

The National Union of Mineworkers (NUM), which arranged Wednesday's march and is spearheading the strike action, says the strike will not end until Angloplat gives in to its demand for a 10 percent wage rise, against an offer of nine percent.

The NUM said the march was a parallel strategy to pile up pressure on the producer.

Analysts warned that platinum output at Angloplat might fall below two million ounces this year because of the prolonged strike and earlier flooding.

But the world's largest platinum producer is still expected to post record financial results for the year on the back of strong global platinum group metal (PGM) prices and renewed weakness in the rand against the dollar, they said.

The striking workers handed over a memorandum to Angloplat management expressing displeasure at management's refusal to give into their demands.

"The memorandum is all about the unhappiness workers are experiencing with regard to the unresolved dispute," said an NUM letter to Angloplat.

The NUM says around 10,000 workers are on strike, a figure disputed by Angloplat, which says less than 8,000 remain on strike from up to 9,000 who downed tools on September 18.

Angloplat says the falling figures were a sign that the strike was weakening after some workers returned to work when the company implemented a unilateral nine percent wage increase last week.

The strike has stopped underground blasting at important mines and forced Angloplat to draw heavily on ore stockpiles to supply its refineries and smelter, analysts said.

Other analysts said Angloplat might be forced to secure materials from third parties for its refineries if the strike continued.

The NUM, which boasts of a membership of around 15,000 workers from Angloplat, has offered to renew negotiations with the company to try to end the industrial action, which has already marginally affected production in the mines.

Angloplat officials say output is running at between 75 and 80 percent of capacity. The key export-led smelter and refineries are still running at 100 percent, thanks to stockpiles.

NUM General Secretary Gwede Mantashe told Reuters on Monday he wanted the talks to "get management and the union out of positions we have locked ourselves into."

But Angloplat has stressed that the nine percent offer was final as it was above inflation and reflected economic trends in South Africa's mining industry.

Angloplat recently reported a doubling in interim earnings to 2.611 billion rand ($355.6 million), led by surging world platinum group metal prices and a weaker rand.

Shares in Angloplat were down 380 cents, or 1.44 percent, at 260 rand on the Johannesburg bourse at 1115 GMT.

Spot platinum was quoted at $583/593 a troy ounce.

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