Sibanye-Stillwater signs wage deal with gold miners

SIBANYE-Stillwater said on Tuesday it had signed a three year wage deal with all represented unions for employees on its gold mines.The agreement is for a basic wage increase for the total bargaining-unit wage bill, including all benefits of about 5.4% a year.Category 4 to 8 employees will receive an increase on the greater of the standard rate of pay of R850 or 4.5% in year one; R900 or 4.8% in year two; and R1,000 or 5% in year three. Miners, artisans and officials will receive increases of 4.5%, 4.8%, and 5% in the first, second and third year of the agreement respectively.The deal, effective for three years from 1 July 2025 to 30 June 2028, was signed with the Association of Mineworkers and Construction Union (AMCU), the National Union of Mineworkers (NUM), UASA, and Solidarity.The wage agreement is a fillip for newly appointed CEO Richard Stewart, especially given the improvement in the gold price which could have created potential for a standoff. Long gone are the outlandish positions taken previously by unions, AMCU in particular.On October 9, the National Union of Mineworkers referred wae discussions to arbitration at the Commission for Conciliation, Mediation and Arbitration, adding that it would “not back down”.Said Stewart: “We would like to acknowledge organised labour for the constructive dialogue and are pleased to have finalised a multi-year wage agreement that is fair for our employees while also providing stability and sustainability at the South African gold operations, aligning all stakeholders’ interests.”The post Sibanye-Stillwater signs wage deal with gold miners appeared first on Miningmx.Weiter zum vollständigen Artikel bei Mining.com Weiter zum vollständigen Artikel bei Mining.com