Sibanye-Stillwater (JSE: SGL & NYSE: SBGL) advises that it has signed a three year wage agreement with all three unions at its Kroondal PGM operations in South Africa. The agreement is effective from 1 July 2017 and includes a R1,000 per month increase year on year for the next 3 years for the category B employees (lower category employees) with CPI related increases for the next 3 years for category A employees.
Medical aid subsidies will also increase from R300 by R50 per month year on year for three years for category A and B employees. The increase represents an average escalation of about 7% in the wage bill for the Kroondal operations.
Neal Froneman, CEO of the Group, said:
“It was pleasing to note the acceptance of the wage agreement by all the unions namely the Association of Mineworkers and Construction Union (AMCU), the National Union of Mineworkers (NUM) and Solidarity. These unions have acted in the interest of their members to protect jobs and at the same time considered the sustainable future of the Kroondal operations.”