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Gold/Mining/Energy : Stillwater Mining , SWC (former PGMS) -- Ignore unavailable to you. Want to Upgrade?

To: PHILLIP FLOTOW who wrote (1225)	10/2/2000 11:36:37 AM
From: PHILLIP FLOTOW	Read Replies (1) \| Respond to of 1336

Angloplat, the world's largest platinum producer with annual output of two million ounces, is offering a nine percent wage increase in 2000 and 2001. The NUM, the only union that has not yet accepted the company's offer, is pressing for a 10 percent wage increase. Angloplat recently reported a doubling in interim headline earnings to 2.611 billion rand ($376.3 million), led by surging world platinum group metal prices and a weaker rand. The company said on Monday it planned to implement its final nine percent offer on Wednesday, backdated to July 1. ``The NUM and its members have been notified about the company's intention. Management remains hopeful that the union will reconsider its position and accept the company's final offer,'' Angloplat said. Mtakati declined to say what the company would do if the NUM rejected its final offer. The NUM has said nearly 16,000 Angloplat workers were on strike, including members of other unions. But the company has said only 9,000 to 10,000 workers were on strike. Shares in Angloplat fell 20 cents to 278.00 rand on the Johannesburg bourse on Monday. PHIL