JOHANNESBURG (miningweekly.com) – JSE- and TSX-listed platinum producer Anooraq Resources on Tuesday confirmed that a two-year wage agreement had been reached by its 51%-held Bokoni Platinum Mines, with several trade unions in South Africa.

Anooraq said in a statement that the agreement was reached with the National Union of Mineworkers, the National Union of Metalworkers of South Africa and the United Association of South Africa.

The agreement provides for wage increases of between 9% and 10% in the first year, and between 7,5% and 8% in the second year, or alternatively the consumer price index plus 2%, whichever was the greater.

An agreement was also reached on minimum wages, living-out allowances and home ownership allowances.

Negotiations at Bokoni were undertaken under the auspices of platinum producer Anglo Platinum, as negotiations had begun prior to Anooraq assuming management of this operation in July.

To subscribe to Mining Weekly's print magazine email subscriptions@creamermedia.co.za or buy now.