Companies looking to get striking gold miners in South Africa back to work will have to try another tactic, as they have rejected the industry's latest wage offer today. The refusal to accept has dimmed hopes that the strikes would cease the calamity caused within the sector, ending the violence that has led to dozens of deaths. Since August, almost 100,000 workers across South Africa - including 75,000 in the mining sector - have downed tools in walkouts that are hitting economic growth sectors and undermining investor confidence in the minerals hub.

Lesiba Seshoka, spokesman for the National Union of Mineworkers said, "This was a final offer from the companies. They said take it or leave it. Now that it has been rejected our options have been exhausted." Africa's top two bullion producers, AngloGold Ashanti and Gold Fields, have been hit by an estimation 48,000 miners taking to the streets to fight for higher wages. Each week, the strike is costing the company 32,000 ounces of gold, while Gold Fields is losing 2,300 ounces a day at the two mines that have been affected.

Read it at Reuters.