JOHANNESBURG (miningweekly.com) – Platinum-miner Lonmin has reached a two-year wage agreement with the National Union of Mineworkers (NUM) with regard to workers at its Marikana operation in North West province.

Employees would receive a 10% wage increase for the first year of the agreement, which would be backdated to October 1, 2009.

They would be entitled to an increase of consumer price inflation plus 2% in the second year of the agreement, Lonmin reported on Friday.

“We are pleased to have successfully concluded these wage negotiations. This was achieved as a result of the concerted efforts of the negotiating teams involved, representing Lonmin and all of the recognised unions, to finalise the agreements. We are grateful to them for the constructive manner in which they carried out and concluded these negotiations,” Lonmin CEO Mahomed Seedat said.

The NUM was not immediately available for comment.

The union had initially demanded a 25% increase from the platinum-miner.

In November, Lonmin also concluded a one-year wage agreement with Solidarity, in terms of which employees would receive a 9,5% increase for the 2010 financial year.

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