South Africa's National Union of Mineworkers ended a protected strike at Impala Platinum Holdings Ltd.'s platinum refinery in South Africa after both parties forged a new two-year wage deal, Bloomberg News reported Oct. 3, citing the union's spokesman, Livhuwani Mammburu.

More than 500 members of the National Union of Mineworkers started a strike at the refinery last week as both parties failed to reach a wage deal following several rounds of negotiations.

The new wage deal, effective from July 1, 2016, to June 30, 2018, offers annual salary increases of 7.5% to 10% for each year and also calls for better medical and accommodation allowances. The union demanded a 9.5% increase in pay.

South Africa's other workers union, the Association of Mineworkers and Construction Union, and platinum miners are in a deadlock on wage talks.