JSE- and NYSE-listed Sibanye-Stillwater has concluded a three-year wage agreement for its Kroondal operation, which forms part of its South African platinum group metal (PGM) operations.
The wage agreement was concluded with the National Union of Mineworkers and the Association of Mineworkers and Construction Union, in respect of wages and conditions of service for a three-year period from July 1, 2020, until June 30, 2023.
The basic wage increases for category four through to category nine surface and underground employees for the first year is 5% or R1 000 a month, whichever is higher.
Miners, artisans and officials will also receive a 5% or R1 000 a month (whichever is higher) increase every year over the three-year period.
Sibanye CEO Neal Froneman says the outcome is in line with the miner’s vision and purpose and results in competitive remuneration for employees while taking into account the longer-term sustainability of the Kroondal operation.
Sibanye currently employs more than 5 495 employees, excluding contractors, at its Kroondal operation, while the total South African PGM operations have a workforce of 47 599, comprising 36 120 employees and 11 479 contractors.