Loading...

Wage increase for coal sector

Nov 07 2012 13:02

Company Data

EXXARO RESOURCES LIMITED [JSE:EXX]

Last traded 146
Change -1
% Change -1
Cumulative volume 380461
Market cap 0

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

Related Articles

Forbes Coal workers to march

Transnet: Prices hitting coal exports

Coal strike worries Gigaba, Eskom

Coal of Africa miners get 26% increase

 
Johannesburg - A wage increase agreement in the coal industry was signed in Johannesburg on Wednesday.

An entry-level hike of 5% was included in an existing agreement and would affect all coal mining companies under the Chamber of Mines, said Frans Baleni, general secretary of the National Union of Mineworkers.

The agreement was signed by the NUM, the Chamber of Mines, Solidarity, and Uasa. A R2 000 once-off "sweetener", after tax, would be paid out next month.

Exxaro [JSE:EXX] decided that instead of the R2 000, it would give lower category workers a 2% increase, and higher category workers 1%.

Baleni said the sweetener was an attempt to strengthen the collective bargaining framework.

exxaro  |  coal  |  wage deal

NEXT ON FIN24X

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
0 comments
Comments have been closed for this article.
 

Company Snapshot

We're talking about...

Calling all social entrepreneurs - apply for The Venture now!

Are you running an innovative social business that's helping to create a better future? Then pitch for a share of The Venture’s $1m fund and receive world-class mentorship to help accelerate your business growth.
 

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

New SAA board now has an aviation expert

Previous results · Suggest a vote

Loading...