Impala Platinum on Tuesday said it had agreed to a five-year wage deal with the Association of Mineworkers and Construction Union (Amcu).
“The agreement is in line with current mining inflation of (about) 6.5% and considers the reality of sustained inflationary pressures faced by our employees,” Impala said, adding the deal takes effect on July 1.
The deal covers increases in basic salaries, living out and home ownership allowances, medical aid and pension fund contributions, the company said, without providing specific figures.
Impala said the agreement secures five years of stability at its operations in SA, where strikes have often interrupted production.
Last month, Impala’s peer Anglo American Platinum also agreed to a five-year pay deal with unions.
Impala’s shares were up 2% in late morning trade.
Reuters
