Mine workers for South African diamond producer De Beers have called off a planned strike that was set to begin late Tuesday.

South Africa's National Union of Mine Workers says the miners canceled the strike after De Beers offered a higher pay raise during last-ditch negotiations.

The union says workers will receive raises of between 8.5 and 10 percent.

The mine workers had voted in favor of the strike on Monday, after talks over a pay raise reached an impasse.

The company had previously offered an eight-percent increase, while the miners were demanding a raise of 11 percent.

De Beers controls an estimated 40 percent of the world's rough diamond market. 

Some information for this report was provided by AFP and Reuters.