Diversified miner Sibanye-Stillwater has reached an settlement with labour union the Affiliation of Mineworkers and Development Union (AMCU) in respect of annual wages and advantages for workers on the Marikana and Rustenburg operations.
The settlement with AMCU follows earlier agreements reached with labour unions the Nationwide Union of Mineworkers and UASA on September 30 and marks the conclusion of the wage negotiation processes on the Marikana and Rustenburg operations.
The ultimate settlement is in keeping with the earlier five-year, inflation-linked provide, with the primary three years comprising fastened, common, yearly wage will increase of 6% and above for bargaining unit workers, however with will increase for years 4 and 5 fastened at R1 300, or 6%, in 12 months 4 and R1 400, or 6%, in 12 months 5, in contrast with the earlier provide’s shopper value inflation-linked variable will increase.
Miners and artisans will obtain common yearly wage will increase of 6% a 12 months for every of the 5 years. The will increase in different advantages stay the identical because the earlier provide. The ultimate settlement will likely be prolonged to all unionised and non-unionised workers at these operations.
“We’re happy to have concluded these wage negotiations timeously and expediently, with out disruption or the necessity for third-party intervention. The annual wage and profit will increase which have been agreed are in step with inflation and safe a five-year interval of stability on the Rustenburg and Marikana operations, which will likely be useful for all stakeholders,” says Sibanye CEO Neal Froneman.
“The settlement reached with AMCU and different consultant organised labour unions is in keeping with the latest wage will increase concluded at our South African gold operations, which was a precursor to those negotiations, with a complete estimated common improve within the wage invoice, together with all advantages, over the five-year interval of roughly 6.3% a 12 months,” he notes.