Precious Metals
Solidarity says unions conclude wage agreement with Sibanye-Stillwater’s South African gold operations
The parties have managed to reach a multi-year agreement for a period of three years, with the agreement to be implemented retroactively from July 1.
The trade unions reached the agreement after five months of negotiations.
The agreement provides, among other things, for wage increases over the next three years, comprising 4.5% in year one, 4.8% in year two and 5%, or a consumer price index- (CPI-) related increase if the CPI exceeds the aforementioned percentages in year three.
“We are disappointed that the increase in year one in particular is not as beneficial to workers, given the good price at which gold is trading, but it is a long-term agreement that brings labour stability and CPI-related increases that represent our contribution to the sustainability of the company,” Solidarity general secretary Gideon du Plessis.
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