JOHANNESBURG (miningweekly.com) – Dual-listed Sibanye-Stillwater has cemented a three-year wage agreement with all three trade unions for its workers at the Kroondal platinum-group metals operations.
Trade unions, the Association of Mineworkers and Construction Union, the National Union of Mineworkers and Solidarity agreed to the agreement, which is effective July 1.
“These unions have acted in the interest of their members to protect jobs and, at the same time, considered the sustainable future of the Kroondal operations,” CEO Neal Froneman said in an update to shareholders on Thursday.
The agreement will add a R1 000 increase to category B employees’ salaries for each of the next three years, while category A staff will get increases in line with the consumer price index each year.
Sibanye also agreed to a R50 increase in contribution, over the next three years, to employees’ current R300 a month medical aid subsidies for category A and B employees.
The increase represents an average escalation of about 7% in the wage bill for the Kroondal operations.