South African precious metals miner Sibanye-Stillwater has signed a three-year wage agreement with unions at its Kroondal operations.
The company has signed the agreements with the National Union of Mineworkers (NUM) and the Association of Mineworkers and Construction Union (AMCU).
According to the company, the wage agreement is with respect to the wages and conditions of service for a three-year period from 1 July this year until 30 June 2023.
Kroondal is a 50:50 pooling and sharing agreement (PSA) with Sibanye-Stillwater and Anglo American Platinum (Amplats).
It is located on the Western Limb of the Bushveld complex. The mine is 12km east of the town of Rustenburg in the North West Province of South Africa.
The agreement includes a R1,000 ($70.69) per month increase year-on-year (YoY) for Category 4-9 surface and underground employees.
Sibanye-Stillwater CEO Neal Froneman said: “We are pleased to have reached another wage agreement with the representative unions and it is encouraging that yet another set of wage negotiations were conducted in a constructive manner without any disruption.
“The outcome is in line with our vision and purpose and results in competitive remuneration for our employees while taking into account the longer-term sustainability of our Kroondal operation.”
Currently, Sibanye-Stillwater employs over 5,495 employees at the Kroondal operation.
In South Africa, platinum-group metals operations have a total workforce of 47,599. Among these, 36,120 are employees and the remaining 11,479 are contractors.