South African platinum major Northam Platinum has concluded wage negotiations with the representative union, the National Union of Mineworkers (NUM) at its Zondereinde mine.
The three-year agreement provides for increases on basic wages and allowances of 13% for entry level underground employees in year one, 11.6% in year two and 10.5% in year three.
Supervisory employees will receive a basic increase of 7.5% per year for each of the three years.
“This is a good outcome for both employees and the company as it provides certainty and allows all stakeholders to focus on the sustainability of the business going forward. We also recognise the mature and constructive manner in which engagement has been undertaken,” says Northam chief executive Paul Dunne.
Operational since 1993, Zondereinde is a cash generative and profitable mine, producing some 300 000 oz annually. Future production at Zondereinde mine is estimated to continue for a further 16 years. It is located on the Western Limb of the Bushveld Complex.