Nickel

Mining Weekly reported that South Africa’s National Union of Mineworkers (NUM) has signed a three-year wage deal for the 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.

Click here to read the full Mining Weekly report.

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