panafricanMining Weekly reports that according to Pan African Resources, its Barberton Mines operation has successfully concluded a three-year wage agreement with the National Union of Mineworkers (NUM) and a five-year wage agreement with Uasa.

The NUM agreement is effective from 1 July and terminates on 30 June 2024. It provides for an average yearly wage increase of about 5.6%, compounded yearly, for employees in the NUM bargaining unit. The Uasa agreement is effective from 21 July and terminates on 30 June 2026. It provides for an average yearly increase of 5% for years one and two; an average yearly increase of 5% or the yearly consumer price inflation rate (CPI), whichever is higher, capped at 6%, for year three; and an average yearly increase of 5% or CPI, whichever is higher, capped at 6%, for years four and five. The parties have, however, agreed to renegotiate these increases in the event of CPI being lower than 4% or higher than 7.5%, for years four and five. Assuming a CPI rate of 5% for the initial three-year period, the above mentioned wage increases will result in an average yearly increase of about 5.4%, compounded yearly, for the Uasa bargaining unit over the period.


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