Sibanye-Stillwater signs 3 year wage agreement with unions | Fin24

Sibanye-Stillwater signs 3 year wage agreement with unions

Nov 09 2017 09:08

Cape Town - Sibanye-Stillwater said on Thursday that it signed a three year wage agreement at its Kroondal operations.

“The increase represents an average escalation of about 7% in the wage bill for the Kroondal operations,” Sibanye-Stillwater announced in a statement.

“It was pleasing to note the acceptance of the wage agreement by all the unions, namely the Association of Mineworkers and Construction Union (AMCU), the National Union of Mineworkers (NUM) and Solidarity,” said Sibanye-Stillwater CEO Neal Froneman.

“These unions have acted in the interest of their members to protect jobs and at the same time considered the sustainable future of the Kroondal operations.”

The agreement is effective from July 1, 2017 and includes a R1 000 per month increase year on year for the next three years for the category B employees (lower category employees) with CPI related increases for the next 3 years for category A employees, it said.

Medical aid subsidies will also increase from R300 by R50 per month year on year for three years for category A and B employees.

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