JSE-listed Anglo American Platinum (Amplats) has signed a five-year wage agreement with three of its four recognised unions.
The wage agreement, which will be implemented from July 1, will result in an average 6.6% increase in employees’ cost-to-company salary every year over the five-year period.
The three unions the National Union of Mineworkers, Uasa and the Association of Mineworkers and Construction Union, together represent 90% of Amplats’ unionised employees.
“We believe this multiyear agreement will enable our business to remain sustainable through platinum group metal price cycles, while also ensuring that our people are rewarded for their work,” says Amplats CEO Natascha Viljoen.