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Zim miners to get 7.5% pay hike

Sep 19 2012 15:59 Malcom Sharara -Fin24's correspondent in Zimbabwe

Company Data

IMPALA PLATINUM HOLDINGS LIMITED [JSE:IMP]

Last traded 107.80
Change 0.36
% Change 0.00
Cumulative volume 658390
Market cap 68.15bn

Last Updated: 24/07/2014 at 01:45. Prices are delayed by 15 minutes. Source: McGregor BFA

Anglo American Plat Ltd [JSE:AMS]

Last traded 470.40
Change -1.42
% Change 0.00
Cumulative volume 87806
Market cap 126.86bn

Last Updated: 24/07/2014 at 01:45. Prices are delayed by 15 minutes. Source: McGregor BFA

AQUARIUS PLATINUM LIMITED [JSE:AQP]

Last traded 4.58
Change -0.07
% Change -0.02
Cumulative volume 962593
Market cap 6.71bn

Last Updated: 24/07/2014 at 01:24. Prices are delayed by 15 minutes. Source: McGregor BFA

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Harare - Mine workers in Zimbabwe are set to get a 7.5% wage increase after the Mineworkers Union of Zimbabwe and the Chamber of Mines agreed on a new deal for the miners.

According to documents from the Chamber of Mines, seen by Fin24, the minimum wage for gold miners will rise to $197.53 (R1 625.67) a month, up from $183.75 (R1 512.26).

Diamond and platinum mine workers will see their pay increase to $212.21 (R1 746.49) from $197.40 (R1 624.60).

Senior officials from the Chamber could not be reached for comment.

The new minimum wages for Zimbabwean miners is way below what their peers in South Africa are striking for, and even lower than the salary Lonmin miners earned before the latest up to 22% increase to end a violent strike that lasted for nearly two months and claimed the lives of 45 people.

South African mining companies Impala [JSE:IMP], Amplats [JSE:AMS] and Aqaurius [JSE:AQP] have operations in Zimbabwe.

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amplats  |  implats  |  aquarius  |  zimbabwe  |  mining
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