Aquarius Platinum Rises 4.6 Percent on NUM Agreement

Financial Mail reported that shares of Aquarius Platinum Ltd. (ASX:AQP) rose 4.6 percent last week after the company reached a one-year wage agreement with the National Union of Mineworkers (NUM). The settlement gives semi-skilled workers an annual wage increase.

As quoted in the market news:

Aquarius CEO Jean Nel did not reveal the exact increase because of current industry sensitivities, but confirmed it was a single-digit number. Liberum Capital analyst Ben Davis said in a note to clients it was a great result and “a surprise to the upside for Aquarius”. Aquarius used a cost of living inflation figure of 6%-6,5%. SA’s official inflation rate was 5,6% in May, though inflation is higher for lower-paid workers because they spend proportionately more on food and transport.

Click here to read the full Financial Mail report.