NUM signs 2-year wage deal as coal strike ends | Fin24
 
  • Tallest in Africa

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

  • Load Shedding

    Power utility Eskom says it is not planning rotational power cuts in September or October.

  • Fin24’s newsletter

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

Loading...

NUM signs 2-year wage deal as coal strike ends

Oct 13 2015 13:14
Siseko Njobeni
Coal

(File, iStock)

Company Data

GLENCORE PLC [JSE:GLN]

Last traded 47
Change 1
% Change 1
Cumulative volume 532735
Market cap 0

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

Related Articles

Chamber urges NUM to accept new wage offer

Union expects deal that will end coal strike

Will new wage offer end coal strike?

Glencore holding coal wage talks to ransom - NUM

NUM signs agreement with Evander Gold Mines

Union plans to strike in gold sector

 

Johannesburg - The National Union of Mineworkers (NUM) and the Chamber of Mines on Tuesday signed a two-year wage agreement in the coal sector.

In terms of this agreement, which ended a week-long strike, lowest paid workers will get increases of between R750 and R1 000 per month in year one and guaranteed increases of 7.5% in year two.

Most employees in the higher categories could receive increases of between 5% and 7.5% in both years.

NUM chief negotiator in the coal sector Peter Bailey said the striking workers will resume work on Wednesday.

The chamber, which represents Anglo Coal, Delmas, Kangra, Koornfontein, Msobo and Glencore [JSE:GLN], said earlier that increases to the living out allowance and housing allowance will vary from company to company.

The chamber's head of employment relations Motsamai Motlhamme said given that the industry is facing subdued demand and both price and cost pressures, "the agreement reached is at the limit of what is affordable".

"After months of negotiations, we have reached a settlement which represents a reasonably balanced outcome in the best interests of employees and the industry,” Motlhamme said in a statement.

The strike attracted national attention because of the effect it could have on Eskom’s ability to supply electricity.

A prolonged strike would result in the depletion of Eskom’s coal stockpiles, threatening power generation.

Eskom has consistently said it had no immediate fears of a power supply crunch because of the strike as it had enough stockpiles at its coal-fired power stations.

Except for two hours and 20 minutes, South Africa has had no load shedding for the past 65 days now, Eskom said in a statement on Tuesday.

"We are implementing our maintenance plan to increase the reliability of our plant, which will in turn increase our operating reserves and stabilise the grid," it said.


num  |  chamber of mines  |  coal mining  |  strike
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's your view on deep sea mining?

Previous results · Suggest a vote

Loading...