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NUM to demand 20% wage hike at Amplats - document

Jun 03 2016 14:30


Company Data

ANGLO AMERICAN PLATINUM LIMITED [JSE:AMS]

Last traded 472
Change 14
% Change 3
Cumulative volume 524723
Market cap 0

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

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Pretoria - The National Union of Mineworkers (NUM) will demand a wage increase of 20% per year for the next two years in upcoming talks with Anglo American Platinum (Amplats) [JSE:AMS], according to an internal document seen by Reuters.

According to Amplats, NUM represents about 20% of its workforce. The majority belong to NUM's arch rival, the Association of Mineworkers and Construction Union (Amcu)

But NUM has the majority at Amplats' key Mogalakwena mine, the company's cash spinner and most profitable asset. The existing three-year wage deal between the companies and unions expires at the end of June.

Amcu's wage demands are not yet known, but will also likely be double digit.

Wage demands in South Africa are being driven in part by soaring food prices triggered by a drought.

Platinum firms are still reeling from the effects of a record five-month strike in 2014 led by Amcu when it sought a more than doubling in wages to R12.500.

In the end, the workers settled for raises of around 20% annually.

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amcu  |  num  |  labour  |  unions  |  mining  |  platinum
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