NUM Wants 84-percent Rise in Pay for Entry-level Gold Miners

Reuters reported that documents it’s obtained show that South Africa’s National Union of Mineworkers (NUM) plans to gun for an 84-percent increase in basic pay for entry-level gold miners. That’s up nearly 10 percent compared to previous demands made by the union.

As quoted in the market news:

[T]he NUM, which represents 57% of the workforce in the gold-mining industry, want employers to pay entry-level workers a basic R10 500 a month. Entry-level gold diggers currently earn around R5 700 a month, not including various allowances structured into their pay packages.

Last month NUM sources had said it would ask for R10 000 for entry-level workers.

The latest demands have been seen by Reuters in official union documents dated April 30 and sent to mining companies body the South African Chamber of Mines.

The demands, which come as the central bank worries about the economic impact of pay rises above the current 4.8% rate of inflation, will set the stage for tough negotiations and a potentially protracted dispute with the gold mining companies.

Click here to read the full Reuters report.