South African union chief says deal reached to end mine strike

File photo of the flag of South Africa. (Clive Rose, Getty Images)
File photo of the flag of South Africa. (Clive Rose, Getty Images)
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Updated: 6/23 12:03 pm

JOHANNESBURG (AP) — The leader of a South African union of miners, who have been on strike for five months, said Monday that an agreement to end the strike has finally been reached.

The South African Press Association on Monday quoted union leader Joseph Mathunjwa as saying a deal with platinum-producing companies will be signed on Tuesday and workers will return to work by Wednesday.

The companies — Lonmin, Impala Platinum and Anglo American Platinum — estimate the strike has cost several billion dollars in lost earnings for workers as well as company revenue. The industry is a pillar of the struggling South African economy.

South Africa is a major producer of platinum, which is used in medical, electronic and other industries.

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