Exxaro Resources ends coal miners' strike in South Africa

South Africa's second-biggest coal miner Exxaro Resources Ltd. (JSE: EXX) settled an unauthorized two-week strike by its employees who agreed to return to work Monday, reports Bloomberg.

To end the work stoppage at six of its mines, the company said it will give a cash incentive to each employee of at least 2,800 rand ($301).

Exxaro said the deal avoided detrimental effects on state-owned Eskom's electricity generation and the South African economy.

The company sends all of its coal to the national electricity utility, Eskom Holdings SOC Ltd., which has more than a dozen coal-powered plants.

Related: South African mining threatened by electricity shortage

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