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Implats pay hikes to kick in on Monday

Sep 28 2012 07:38 Reuters

Company Data

IMPALA PLATINUM HOLDINGS LIMITED [JSE:IMP]

Last traded 110.35
Change 2.85
% Change 0.03
Cumulative volume 682817
Market cap 69.76bn

Last Updated: 25/07/2014 at 04:33. Prices are delayed by 15 minutes. Source: McGregor BFA

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Johannesburg - World no. 2 platinum producer Impala Platinum Holdings [JSE:IMP] said on Friday pay hikes it had offered to workers to avert looming strike action would take effect from Monday.

"The overriding imperative for all stakeholders should be to ensure peace, stability and order and in so doing create an environment for safe production. The wage adjustment supports this imperative," chief executive Terence Goodlace said in a statement.

Another strike was averted after workers accepted a pay agreement on Thursday.

"We are not going on strike, the mine has agreed to adjust our pay with effect from October 1," said Khayelethu Mzimeli, chairperson of the Association of Mineworkers and Construction Union (Amcu) at Impala.

He said workers would be given letters on Friday indicating how their salary had been adjusted.

"You will receive a letter on the adjustment. We want you to be happy during the festive season," he said to the applause of the crowd.

"Amcu will not go on an illegal strike; if we have to go on a strike we will follow all relevant channels."

He said workers would see the exact figures on Friday.

"Good news is that no worker will earn less than R6 000."

Mzimeli said workers initially demanded a pay rise of 10% not to go on strike.

In February, workers at the mine went on a strike demanding a minimum monthly salary of R9 000.

Their salary was increased by 10%.


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