Today's Labour News

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BL Premium reports that precious metals producer Sibanye-Stillwater has concluded a five-year wage deal with labour unions at its Kroondal platinum mine. Sibanye Stillwater

The agreement with the Association of Mineworkers and Construction Union (Amcu) and the National Union of Mineworkers (NUM) comes as mining houses are facing elevated cost pressures while average platinum group metals basket prices are a lot weaker than they were in recent times. The five-year wage agreement is similar to the terms and increases reached at the group’s Rustenburg and Marikana operations in 2022. It is inflation-linked, with lowest paid employees receiving a minimum-wage increase of 6% in each of five years. Miners, artisans and officials will also receive an increase of 6% in each year of the five-year agreement. The estimated average increase in the total wage bill, including all benefits, is 6.4% a year over the time horizon. “The agreement secures wage stability in the operations which will benefit all stakeholders,” CEO Neal Froneman said in a statement. Sibanye has taken heavy blows over the years from organised labour in an industry not immune to lengthy, costly and violent industrial action over wages.

  • Read the full original of the report in the above regard by Andries Mahlangu at BusinessLive (subscriber access only)

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