Sibanye-Stillwater has reached a wage and benefits agreement with two of the three recognised unions at its South Africa Platinum Group Metals (PGM) operations, the National Union of Mineworkers (NUM) and UASA.
The leadership of the Association of Mineworkers and Construction Union (AMCU) declared a dispute which has been referred to the Commission for Conciliation, Mediation and Arbitration (CCMA) for conciliation.
Sibanye-Stillwater presented inflation linked, five-year offer comprising fixed average annual wage increases of 6% and above for bargaining unit employees for three years, followed by consumer price index (CPI)-linked agreements in four and five years, as well as notable increases in benefits.
Basic wages for entry-level employees have increased on average by over 90% since 2013, compared with a compound increase in CPI of approximately 45% over the period.
It said the current offer will result in further meaningful gains for employees, with entry-level employees on average achieving a basic wage of over R20,000 per month and a total cost to the company of more than R34,000 per month by year five, or a basic wage of approximately R250,000 per annum and an annual average total cost to the company of approximately R410,000.
“We remain committed to achieving a fair and sustainable agreement and avoiding prolonged negotiations as agreed upfront with the unions,” said company chief regional (Southern Africa) officer Richard Stewart.
“It is concerning that despite overwhelming support for the offer by employees and union representatives at the operations, AMCU national leadership has again chosen to ignore their members. We will continue to act in the interest of all stakeholders.”
Mathew Nyaungwa, Editor in Chief of the African Bureau, in Zimbabwe, Rough&Polished
Exclusive
Dmitry Fedorov: I want our jewelry to be displayed at a museum in the future
Dmitry Fedorov is the founder of the eponymous jewelry house. His main focus is the creation of Orthodox-inspired premium luxury jewelry of high artistic merit. He told Rough&Polished about his journey in the jewelry industry, about choosing the ‘Orthodox...
28 october 2024
Responsible business practices ‘no longer optional’, says WDC President Feriel Zerouki
The president of the World Diamond Council takes time out of her busy schedule to tell Rough&Polished readers about the critical work of the WDC. Zerouki, the first female present of the body, which includes all the important industry organizations among...
14 october 2024
James Campbell: Botswana Diamonds optimistic as it enters uncharted territory of using AI for mineral exploration
London-listed Botswana Diamonds has expressed optimism about the company’s use of artificial intelligence (AI) to scan the exploration database in Botswana to look for new mineralised deposits. Company managing director James Campbell told Rough...
07 october 2024
Artur Salyakayev: For me, happiness is freedom to make my ideas happen and create valuable products
Artur Salyakayev is an art entrepreneur, founder of the International Jewelry Academy (IJA) and the INCRUA jewelry company. He has initiated and developed successful projects in jewelry industry and services sector. He is also a leading expert...
30 september 2024
Paul Zimnisky: China key for sustained recovery in demand for natural diamonds, prices
The curtailing of upstream and midstream natural diamond production in the past months is starting to have an effect on prices, according to the New-York-based independent diamond and jewellery analyst and consultant, Paul Zimnisky. He told Rough & Polished’s...
23 september 2024
