DiamondCorp, AMCU sign four-year wage deal
JOHANNESBURG (miningweekly.com) – Dual-listed DiamondCorp’s 74%-owned subsidiary Lace Diamond Mines, in the Free State, has signed a four-year wage agreement with the Association of Mineworkers and Construction Union (AMCU).
The agreement set out yearly increases of 8% in employees’ basic salary for most categories, along with a progressive lift in the basic salaries of the lowest categories of workers to R12 500 a month over the four-year period, the Southern African diamond development and exploration company said in a statement on Wednesday.
“This long-term wage agreement will provide industrial relations stability at the Lace mine during the critical mine start-up years and demonstrates a solid maturing of relationships between the union and management. We are particularly pleased to have negotiated a four-year agreement rather than the more common two- or three-year agreement,” DiamondCorp CEO Paul Loudon said.
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