Company Announcement - Wescoal has successfully negotiated the annual wage agreement with NUMSA announcing a 7% increase in basic salaries effective Acting CEO Waheed Sulaiman says good relations between the parties is reflected in the agreement which also sees the introduction of medical benefits for all employees from 1 July 2015 and a Taxi Transport allowance retrospective to 1 April 2015. Leave pay terms and conditions have also been revised.
The agreement concludes Wescoal’s annual wage negotiations for the current operating year with the exception of Production Bonuses which are reviewed regularly based on performance. Wescoal Holdings Limited mines, processes, supplies, sells and distributes coal. It is listed on the main board of the JSE and its key strategic thrust is to be a leading junior coal miner with a sustainable resource base and a coal trading operation