• Gupta fallout

    KPMG is still losing staff and clients due to Gupta fallout, according to insiders.

  • Stimulus reaction

    Ratings agency Fitch says SA's stimulus plan is unlikely to boost growth significantly.

  • The Ramaphosa Plan

    The president said on Friday that the work "starts now". He wasn't wrong, writes Pieter du Toit.

Loading...

SA gold miners and NUM deadlocked over wages

Aug 22 2018 10:09
Paul Burkhardt, Bloomberg

National Union of Mineworkers (NUM), said it’s deadlocked over pay with the producers after numerous rounds of negotiations.

The dispute will be referred to the Commission for Conciliation, Mediation and Arbitration (CCMA) and sets the path toward a legal, protected strike, the NUM said in an emailed statement on Tuesday.

The union has had seven meetings since pay talks started last month with gold producers, including Sibanye Gold [JSE:SGL] and AngloGold Ashanti [JSE:ANG], said NUM General Secretary David Sipunzi.

“We have reached a stage whereby we understand that the employers are not prepared to give a better offer to the employees,” he said.

South Africa’s gold mines are the world’s deepest and among the most labour intensive, leaving producers struggling to reduce costs. The companies involved in the collective bargaining directly employ about 80 000 workers, according to Minerals Council South Africa, a lobby group for the producers.

The NUM is demanding R9 450 a month for surface workers, R10 450 for underground workers and a 14.5% increase for miners, artisans and officials.

The Solidarity union also rejected the latest offers “in principle,” but will continue with negotiations, it said in a separate emailed statement. 

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

Follow Fin24 on Twitter and Facebook. 24.com encourages commentary submitted via MyNews24. Contributions of 200 words or more will be considered for publication.

anglo gold ashanti  |  num  |  sibanye gold  |  mining  |  companies
NEXT ON FIN24X

 
 
 
 

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 do you think of President Cyril Ramaphosa's economic stimulus plan?

Previous results · Suggest a vote

Loading...