After four months of negotiations, the platinum sector has managed to avert a strike as three major producers inked a wage deal with the majority union.
Amcu president Joseph Mathunjwa said a basic monthly increase of R1,000 a worker per annum amounted to more than R5.7bn in total over the next three years and would benefit employees as well as their local economies. Sibanye-Stillwater has agreed to an annual increase of R1,000 a month, or a 5% increase, whichever is higher. Implats agreed to an increase of R1,100, or 6%.
The companies said they were pleased to have reached a fair settlement that was sustainable for both their businesses and their employees.
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