JOHANNESBURG (miningweekly.com) – The National Union of Mineworkers (NUM) said on Wednesday that it had reached a wage agreement with the world’s third-largest platinum producer Lonmin.
The parties agreed on an 8% wage increment, down from the NUM's original demand of 12%, as well as a one-off bonus of R850.
The increment on wages would be backdated to October 1.
The agreement was reached after months of engagement, which saw the Commission for Conciliation, Mediation and Arbitration (CCMA) intervening in the dispute. The parties went to the CCMA after being unable to find a resolution on their own with the NUM demanding an 11% increase and Lonmin offering a 7% increase.
NUM chief negotiator at Lonmin Erick Gcilitshana said that it had been a tough negotiation cycle for all parties. “We are happy and proud of our achievement for 2010,” he added.
Lonmin CEO Ian Farmer added that the company was pleased to have concluded all its wage negotiations. “We are grateful to the respective teams for the spirit with which it has been conducted, as well as our employees who remained patient during the negotiating period,” he said.