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Precious Metals  
21 November 2016

Bokoni Platinum Mines concludes two-year wage agreement with unions

Bokoni Platinum Mines has concluded a two-year wage agreement with the National Union of Mineworkers (NUM) and other worker unions.

Atlatsa Resources announced today that its Bokoni Platinum Mines has concluded a two-year wage agreement with the National Union of Mineworkers (NUM), Togetherness Amalgamated Workers Union of South Africa (TAWUSA) and the United Association of South Africa (UASA), effective from 1 July 2016.

The agreement includes an increase in basic pay of R850 per month in 2016 and R1 000 per month in 2017 for workers with A1to B7 job gradings and a 6% increase in 2016 and 6.5% increase in 2017 for workers in jobs graded from C1 to D1.

The various allowances will be increased by R50 in the case of living out allowances and home ownership allowances and R30 in the case of transport allowances in 2016. In 2017, these allowances will see a further increase of R100 with respect to living out and home ownership allowances and R50 with respect to transport and dog handlers allowances. Medical aid contributions will respectively increase by 5% and 5.5%.

Harold Motaung, CEO of Atlatsa, said: “We are pleased with the constructive and collaborative manner in which the Bokoni Mine management and unions progressed and concluded the wage negotiations.

“The finalisation of the wage agreement supports labour stability at the mine and bodes well for our on-going working relationship with our employees, unions and broader stakeholder groups.”

The agreement will result in an increase in the labour cost at Bokoni Mine, with a cost-to-company increase of 6.38% in year one and 7.00% in year two.

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