Wage agreement
reached at Kroondal
Mine
 
Johannesburg, South Africa — 26 June 2013 – Aquarius Platinum Limited (Aquarius) says that its wholly-owned subsidiary, Aquarius Platinum (South Africa) (Pty) Limited has reached a wage agreement with the National Union of Mineworkers (NUM) in relation to its members employed at the Kroondal mine, 120km north-west of Johannesburg in South Africa.

The mine currently employs approximately 8,120 people including contractors, and the NUM is the majority union representing the majority of Kroondal’s Category B, semi-skilled work force.

The agreement provides for an on average increase which slightly exceeds the rise in the cost of living as measured by the inflation rate, and will come into effect on 1 July 2013. It will remain in place for one year.

Negotiations in relation to the Category A or skilled employees, which total 970 at Kroondal, will commence in the coming weeks.

In a statement released here, Aquarius acknowledges with appreciation the:

  • critical contribution the Kroondal work force continues to make in relation to the ongoing safety and operational improvements at the Kroondal mine;
  • leadership shown by the Kroondal mine’s management team;
  • constructive and mature manner in which the NUM conducted the wage negotiations; and
  • constructive role the South African government and the Chamber of Mines continues to fulfil in improving the industrial relations environment in the South African mining sector.

“The successful conclusion of the wage agreement is a significant positive development for the company, particularly in the difficult environment the platinum sector is currently experiencing,” the statement adds. “Aquarius is extremely proud of its workforce which continued to work uninterruptedly to maintain its operating performance throughout the negotiation process.”

Source: Aquarius Platinum. For more information, click here.