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NUM makes pay deal breakthrough

Oct 25 2012 11:03
Reuters

Protesting NUM miners

Company Data

GOLD FIELDS LIMITED [JSE:GFI]

Last traded 46
Change -1
% Change -2
Cumulative volume 1035809
Market cap 0

Last Updated: 01/01/0001 at 12:00. Prices are delayed by 15 minutes. Source: McGregor BFA

HARMONY GOLD MINING COMPANY LIMITED [JSE:HAR]

Last traded 21
Change -1
% Change -2
Cumulative volume 850330
Market cap 0

Last Updated: 01/01/0001 at 12:00. Prices are delayed by 15 minutes. Source: McGregor BFA

ANGLOGOLD ASHANTI LIMITED [JSE:ANG]

Last traded 132
Change -6
% Change -4
Cumulative volume 1423651
Market cap 0

Last Updated: 01/01/0001 at 12:00. Prices are delayed by 15 minutes. Source: McGregor BFA

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Johannesburg - The National Union of Mineworkers (NUM) said on Thursday it had reached a wage deal with the Chamber of Mines that raises gold miners’ pay by a cumulative 11% - 20.8%.

NUM said entry levels positions would now receive R5 000 a month, from R4 840 previously.

“The latest adjustments, on top of earlier pay rises applicable from July 1, 2012, lift wage rates by a cumulative 11% to 20.8%,” NUM said in a statement.

Miners working for AngloGold Ashanti [JSE:ANG], Harmony Gold Mining Company [JSE:HAR] and Gold Fields [JSE:GFI] would benefit from the new pay structure, it said.


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