JSE-listed Kumba Iron Ore has signed a three-year wage agreement for the bargaining category employees with its recognised unions with bargaining rights.Kumba Iron Ore has concluded the agreement with the National Union of Mineworkers, Solidarity, and the Association of Mineworkers and Construction Union.
The agreement represents a differentiated annual salary increase of 10% for the lower level categories and 7% for the higher level categories.
The agreement is effective from 1 July 2017 until 30 June 2020. Negotiations began on 15 May 2017, culminating in the conclusion of the agreement on 25 August 2017.
“We would like to thank the unions for the constructive way in which they approached the negotiations,” says Kumba Iron Ore CEO, Themba Mkhwanazi.
“While robust and challenging, this demonstrates that the bargaining system is sound and capable of delivering negotiated agreements that take the needs and priorities of all parties into consideration.”
Feature image credit: Kumba Iron Ore