Harmony Gold Mining has reached a landmark five-year agreement to increase wages and other conditions of service with its five labour unions.
The unions are the Coalition (comprising the NUM, UASA and Solidarity), AMCU, and NUMSA.
The agreement is from 1 July 1, 2024, to 30, 2029.
“For the first time in our 73-year history, we have concluded a five-year wage agreement with all of our labour unions,” said Harmony chief executive Peter Steenkamp.
“This is testimony to the strength of our labour relations and ensures stability and continued certainty on our fixed labour costs for the next five years. This milestone agreement has been reached three months before the existing agreement's expiry.”
Several non-wage related and process issues were also agreed to, including increasing the current guaranteed minimum severance and medical incapacity payments, medical aid co-contributory benefits, and maternity and paternity leave.
This agreement, it said, will result in an increase of about 6% per annum over the five-year period which is within Harmony planning parameters.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
