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» JSE:Anooraq Resources Corporation: 650c 0%

Anooraq ups wages 10%

I-Net Bridge | Tue, 20 Oct 2009 14:52
[miningmx.com] -- Platinum exploration firm Anooraq Resources on Tuesday advised that it has agreed to increase wages by up to 10% at its Bokoni Platinum Mines, previously Lebowa Platinum Mines.

The two-year wage agreement has been reached with the National Union of Mineworkers, the National Union of Metalworkers of South Africa and the United Association of South Africa.

Negotiations at Bokoni were undertaken under the auspices of Anglo Platinum as negotiations had begun prior to Anooraq assuming management of this operation at the beginning of July 2009.

Anooraq said the agreement provides for wage increases of between 9% and 10% in the first year and between 7.5% and 8% in the second year, or alternatively the Consumer Price Index plus 2%, whichever is the greater.

Agreement was also reached on minimum wages, living-out allowances and home ownership allowances. At 14:23 shares in Anooraq were unchanged at 6.50 rand on the JSE.




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