Minerals Council announces Harmony Gold wage deal | Fin24
  • Tallest in Africa

    A new Sandton skyscraper is the tallest building on the continent, offering a view of Magaliesberg.

  • Eskom

    The power utility says the DA is mistaken and it is not planning load shedding.

  • Fin24’s newsletter

    Sign up to receive Fin24's top news in your inbox every morning.


Minerals Council announces Harmony Gold wage deal

Oct 03 2018 18:01
Khulekani Magubane

The Minerals Council has announced the conclusion of a wage agreement between Harmony Gold [JSE:HAR] and unions representing an estimated 69% of the miner workforce.

Harmony Gold reached an agreement with the United Association of South Africa (UASA), the National Union of Mineworkers (NUM) and Solidarity, which will outline the conditions of employment for the period from July this year to June of 2021, the Minerals Council said in a statement on Wednesday afternoon.

However, Sibanye-Stillwater [JSE:SGL] remains in the process of negotiating with organised labour through arbitration processes.

According to the freshly concluded agreement at Harmony Gold, miners, artisans and officials will receive increases of 6.3% for each year of the agreement.

"The three-year agreement, concluded under the auspices of the Minerals Council, allows for increases to the basic wage of Category 4-8 employees of R700 in year one, R750 in year two and R825 in year three," said the Minerals Council.

The statement said the parties also agreed to an increase in the current living-out allowance of R100 each year to R2400, and the re-introduction of a service increment for officials of 0.5% from the second year of the agreement going forward.

In the statement, chief negotiator for the Minerals Council, Motsamai Motlhamme, welcomed the agreement as "a positive sign of co-operative engagement that will advance the interests of both sets of parties".

The Minerals Council said the wage negotiations in Sibanye-Stillwater and Village Main Reef with the Association of Mineworkers and Construction Union (AMCU), NUM, UASA and Solidarity would continue at the Commission for Conciliation, Mediation and Arbitration (CCMA).

* Sign up to Fin24's top news in your inbox: SUBSCRIBE TO FIN24 NEWSLETTER



Company Snapshot

Money Clinic

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

Voting Booth

What's your view on deep sea mining?

Previous results · Suggest a vote