BL Premium reports that in a historic wage agreement that guarantees mining labour stability, Harmony Gold has signed a multiyear, above-inflation pay deal.
The gold producer and the National Union of Mineworkers (NUM), the Association of Mineworkers and Construction Union (Amcu), the National Union of Metalworkers of SA (Numsa), Solidarity and the United Association of SA (Uasa) signed the agreement on Thursday after months of talks. Mineworkers will get raises of R1,200 in the first year, R1,250 in the second, R1,300 in the third, R1,450 in the fourth and R1,500 in the final year. Inflation rose to an annualised 5.6% in February and the SA Reserve Bank expects it to fall to 4.5% only in the fourth quarter of 2025. Harmony Gold said the deal would result in an increase of about 6% a year over the five years, “which is within our planning parameters”. In addition to the basic wage increases, the monthly housing allowance will increase to R3,360 in the first year, rising to R4,020 in the final year, while the living-out allowance will increase to R2,800 in the first year, rising to R3,350 in the final year of the wage deal. Solidarity general secretary Gideon du Plessis said the agreement was a victory for collective bargaining and noted that it was reached without deadlocks or a dispute process. “It has also been the first time that a five-year agreement has been reached in the gold sector,” he pointed out. Uasa’s Abigail Moyo said the union was pleased to be a part of “rewarding negotiations given the current economic challenges many companies face, especially in mining. The cost of living has workers on edge.”
- Read the full original of the report in the above regard by Luyolo Mkentane at BusinessLive (subscriber access only)
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