Sibanye-Stillwater signs 3-year wage agreement with unions

JOHANNESBURG   – South African precious metals producer Sibanye-Stillwater said on Thursday it has signed a three-year wage agreement with all three unions at its Kroondal operations.

The agreement includes a 1,000 rand ($70.69) per month increase year-on-year for the lower category employees, with inflation related increases for category A employees, the firm said in a statement.

Medical aid subsidies will also increase by 50 rand per month for category A and B members of the National Union of Mineworkers (NUM), Association of Mineworkers and Construction Union (AMCU), and Solidarity.

“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,” said group Chief Executive Neal Froneman.

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NUM in October declared a dispute with Sibanye-Stillwater’s Kroondal operations after wage negotiations deadlocked.

($1 = 14.1454 rand)(Reuters)

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