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Unions to give feedback soon

Oct 10 2012 20:30 Sapa

Company Data

HARMONY GOLD MINING COMPANY LIMITED [JSE:HAR]

Last traded 0
Change -0,45
% Change 0
Cumulative volume 820151
Market cap 11.48bn

Last Updated: 19-09-2014 at 04:25. Prices are delayed by 15 minutes. Source: McGregor BFA

ANGLOGOLD ASHANTI LIMITED [JSE:ANG]

Last traded 0
Change -1,08
% Change 0
Cumulative volume 509902
Market cap 58.48bn

Last Updated: 19-09-2014 at 04:26. Prices are delayed by 15 minutes. Source: McGregor BFA

GOLD FIELDS LIMITED [JSE:GFI]

Last traded 0
Change -0,69
% Change 0
Cumulative volume 1803024
Market cap 35.66bn

Last Updated: 19-09-2014 at 04:26. Prices are delayed by 15 minutes. Source: McGregor BFA

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Johannesburg - It will be revealed on Thursday whether gold sector mineworkers have accepted pay structure proposals of the Chamber of Mines, the National Union of Mineworkers (NUM) said.

NUM spokesperson Lesiba Seshoka said union leaders had been making the rounds on Wednesday engaging with members.

"We started engaging with the members this morning. We will continue until [Thursday]," said Seshoka.

Earlier, UASA spokesperson Franz Sterhing said he was confident that his members would accept the proposal.

He said NUM members would possibly be the ones to reject it.

"The problem lies with NUM," said Sterhing.

"We will have to wait and see whether they'll be able to sell the deal with their members."

Trade union Solidarity was also expected to engage with its members and all the unions were expected to report back to the Chamber of Mines on Thursday.

They all met with the Chamber on Tuesday, when they discussed the possible scrapping of the category three level in the AngloGold Ashanti [JSE:ANG], Gold Fields [JSE:GFI] and Harmony Gold Mining Company [JSE:HAR] mines.

With the entry level being increased to four, workers were guaranteed a higher salary.

It was suggested that a new category be created for locomotive, loader, winch and water jet operators, which would improve salaries.

It was unclear by how much the salaries would improve.

It was also proposed that rock drill operators be granted allowances in addition to their current salaries.

The meeting agreed to the appointment of a commission of inquiry, which would probe the living and working conditions of the miners.

Senior executive Elize Strydom said in a statement it was critical for all parties to work at resolving the unprotected strikes facing the industry.

"This is important not only for the companies, the unions and the mineworkers, but also for the economic and social well-being of the country as a whole."

The meeting recommitted to finalising its discussions on the better use of mining assets and improved productivity by March.

Gold miners across the country have been engaged in strikes for the last several weeks.

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