South African Unions, Coal Producers to Settle on Wage Agreements Next Week

Mineweb reported that unions and coal producers in South Africa plan to meet again on Monday to try to finalize wage agreements and head off potential strike action.

As quoted in the market news:

Companies, which include units of global mining giants Anglo American and Glencore Xstrata, made a revised above-inflation wage offer to employees last week, raising hopes of an agreement in the sector without industrial action.

That ‘final’ offer was for pay increases ranging between 7 percent and 11 percent, above consumer inflation of 6.4 percent in August, according to a document seen by Reuters last week.

…a source with the trade union Solidarity, which represents skilled workers, said that the expectation is that its members will sign a deal on Monday.

Motsamai Motlhamme, deputy head of industrial relations at South Africa’s Chamber of Mines, which is negotiating on behalf of the producers, said: ‘There are a couple of issues that still need to be ironed out. The parties will reconvene on Monday.’

Click here to read the full Mineweb report.