Anglo American Platinum Signs Five- Year Wage Agreement With Labour Unions
26 May, 2022
Anglo American Platinum Limited (“Anglo American Platinum” or the “Company”) announces that it has signed a five-year wage agreement with three of its four recognised unions representing 90% of unionised employees, namely the Association of Mineworkers and Construction Union (“AMCU”), The National Union of Mineworkers (“NUM”) and UASA – The Union (“UASA”), enabling the implementation of the new wage agreement across all relevant employees. The agreement has been signed before the expiry of the current agreement and will be implemented from 1 July 2022.
Natascha Viljoen, CEO of Anglo American Platinum, said: “Our unions, as representatives of our employees, are an important stakeholder. We are very pleased to have reached an agreement, and we thank them for their engagement, collaboration and constructive feedback throughout the wage negotiation process, ensuring stability at our operations. We believe this multi-year agreement will enable our business to remain sustainable through PGM price cycles, while also ensuring that our people are rewarded for their work as we seek to deliver enduring value for all our stakeholders across society.”
The wage agreement increases salary and salary-related allowances which will increase the total labour cost-to-company, on average by 6.6 % per annum over the five-year period