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BL Premium reports that platinum group metals (PGMs) producer Impala Platinum announced on Tuesday it had signed a five-year pay hike deal with the Association of Mineworkers and Construction (Amcu) which will see workers getting inflation-beating increases over the multi-term agreement.
The settlement is effective from 1 July. The group employs more than 50,000 people across its operations. Implats said the pay hike deal assured employees of increases to “all major components of remuneration over the next five years including basic salaries, living-out and home-ownership allowances, medical aid and pension fund contributions”. It added that the agreement “is in line with current mining inflation of 6.5% and considers the reality of sustained inflationary pressures faced by our employees.” Implats spokesperson Johan Theron indicated that the deal would translate into employees pocketing average increases “of 6.6% over the five year period”. Amcu’s Jimmy Gama commented that the pay hike deal was a “great achievement” for workers battling with the rising cost of living. He said the lowest-paid workers would receive increases of R1,150 in year one and up to R1,500 in the last year of the deal. Gama added that the new strategy by Amcu, the biggest union in the platinum sector, to reach wage agreements amicably “goes with improved maturity and understanding between parties, and being able to put aside negativity and focus on what’s good for company and workers at large”. In May, Anglo American Platinum announced it had entered into a five-year wage agreement with Amcu, the National Union of Mineworkers and Uasa for above-inflation increases for employees.
- Read the full original of the report in the above regard by Luyolo Mkentane at BusinessLive (subscriber access only)
- Read too, Implats, Amcu sign five-year wage deal, at Mining Weekly
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