Johannesburg - Coal of Africa [JSE:CZA] (CoAL) advised on Friday
that the National Union of Mineworkers (NUM) called off the wage-related strike
at its Mooiplaats Colliery on October 30.
The decision follows a meeting held on Monday October 29
between NUM senior representatives and CoAL to resolve the strike action.
The employees returned to work on October 31‚ and the
collective bargaining unit which constitutes 27% of Mooiplaats Colliery's
monthly salary bill will receive an increase of 26% cost to company inclusive
of medical aid assistance‚ housing allowance as well as shift and underground
allowances with effect from July 1 2012‚ the company said.
The increase from the original offer of 22% is due to the
reallocation of certain allowances into the basic salary component. The
settlement translates to an increase of about 1% on Mooiplaats' total
cost per saleable tonne.
CoAL CEO John Wallington said‚ "As Mooiplaats colliery
staff return to work‚ we have initiated management actions that will reduce
operational costs and improve efficiencies at the operation.
fully aware of the impact the strike has had on the profitability of the mine
and is implementing various initiatives to address the long-term viability of
the operation. We will complete the full review and restructuring of the
colliery that commenced prior to the strike action."