The National Union of Mineworkers (NUM) in South Africa has announced that the union is currently in dispute with Anglo Platinum (Angloplat) over its latest pay offer.

The world's leading platinum miner has offered workers a 4.7 per cent increase, while NUM officials are demanding a 15 per cent rise.

Angloplat spokesperson Mike Mtakati confirmed to Business Day that the group was offering a 4.7 per cent increase but said formal notification of dispute had yet to be received.

Platinum analyst for UBS, Willem Venter, explained that the current wage negotiations were key to Angloplat achieving a reduction in operating costs.

"Angloplat's production cost improvements are likely to come from greater economies of scale, as Angloplat is currently ramping up its mining operations," he said.

"If the wage deal is fixed at no more than 1.5 per cent above inflation, then Angloplat may achieve its 5.5 per cent unit increase target."