PRETORIA, South Africa, Aug. 7 (UPI) -- Gold miners went on strike in South Africa Sunday following the collapse of 11th-hour talks with mining officials.
The strike by more than 100,000 members of the National Union of Mineworkers is the first gold mine strike in 18 years. SABC News reported another 10,000 members of Solidarity said they would join the walkout Monday.
The BBC reported the union sought wage increases of 12 percent, but Chamber of Mines negotiators offered a raise of 4.5 percent to 5 percent, plus bonuses linked to a rise in the domestic gold price.
Mining industry negotiators warned that if the union went through with the strike, current offers will be taken off the table.
Gold industry analysts expect the strike will result in a loss in production of 28,000 ounces and lost revenues of $12.21 million per day.
South Africa produces 15 percent of the world's gold bullion.
