JOHANNESBURG (Reuters) - Anglo American Platinum
"If the offer is accepted, the understanding is that employees would return to work on Monday, 12 November, after which date the offer will lapse," the world's top platinum producer said in a statement.
The company, commonly known as Amplats, said any agreement reached would not be implemented before July 1, 2013, when current wage deals expire.
The cost of the wildcat action is mounting and Amplats said it had lost almost 168,000 ounces in platinum production, worth over $250 million at current spot prices.
Amplats also said it had offered a one-off allowance of 4,500 rand ($520) to employees. But it said it simply could not afford the demands being made.
"The workers' current demand of a salary increase of 4500 rand per month would cost approximately 2.6 billion rand, an amount that is clearly not affordable in a year when the company is experiencing such economic challenges," chief executive Chris Griffith said.
South Africa's gold and platinum sectors have been shaken by months of illegal and often violent strikes which have resulted in the deaths of around 50 people so far this year.
Most of the affected gold operations are back to work but Amplats, a unit of global mining giant Anglo American