Sibanye-Stillwater has reached a five-year wage agreement with all representative unions, comprising the Association of Mineworkers and Construction Union (AMCU) and the National Union of Mineworkers (NUM), in respect of annual wages and benefits for employees at the Kroondal Platinum Group Metal (PGM) operations in South Africa.
“The agreement secures wage stability in the operations, which will benefit all stakeholders,” said company chief executive Neal Froneman.
He said the terms and increases of the five-year wage agreement are similar to those struck at the group's Marikana and Rustenburg facilities last year.
The deal is tied to inflation, providing employees in categories four through eight with a minimum annual raise of 6% throughout each of the five years of the agreement.
A 6% annual rise will be provided to miners, craftsmen, and officials throughout the five-year deal.
The estimated average increase in the total wage bill, including all benefits, over the five years is about 6.4% per year.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
