NUM Signs Three-year Wage Deal at Nkomati Nickel Mine

Mining Weekly reported that South Africa’s National Union of Mineworkers (NUM) has signed a three-year wage deal for the Nkomati nickel mine. Nkomati is owned by African Rainbow Minerals Ltd. (JSE:ARI) and Russia’s Norilsk Nickel (MCX:GMKN).
As quoted in the market news:

The deal followed a three-day strike which started on Sunday evening. The agreement is effective from the 1st of July.
The agreement would see workers receiving increases of 8.5% in the first year, up to 9% in the second year and up to 10% in the third year, according to their category. Workers would also receive a housing allocation of R2 930 in the first year, rising to R3,512 in the third year and a medical award that started at R1 953 and rises to R2 342. There is also a long service award that would see workers with 10 years of service receive R4 000, while those with 25 years of service would receive R12 000.

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