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Miningmx reports that Sibanye-Stillwater’s CEO, Neal Froneman doesn’t expect a speedy outcome to wage negotiations with unions at the producer’s platinum group metal (PGM) mines owing to the complexity of discussions.
Wage negotiations are due to start in about a week. In an interview last week Froneman stated: “I don’t think it will be quick outcome. Positional bargaining is a process, especially if you are going to achieve an inflation-related wage increase. Maybe there’s a bit more complexity with profit share which could well be the right thing for PGMs.” Anglo American Platinum (Amplats) made relatively short work of its wage negotiations by agreeing on 26 May to a five-year wage agreement with unions that increased the total labour cost to company an average 6.6%. Northam Platinum signed a five-year wage pact last year after agreeing an average 6.5% wage increase. “There is little appetite (among union members) which doesn’t mean there won’t be a strike,” said Froneman who complained that employees “get abused” by unions owing to the absence of a secret ballot. Analysts agree that Sibanye’s negotiations with unions will take time and suggest Impala Platinum (Implats) is also at risk of a strike. The mines covered by the current wage negotiations are Implats’ Rustenburg Lease and Marula and Marikana and Rustenburg, owned by Sibanye. The mines employ 65,000 people full time and a further 22,000 contractors and account for about half of total employment in South Africa’s PGM sector.
- Read the full original of the report in the above regard by David McKay at Miningmx
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