GOLD Fields’ South Deep mine agreed a five-year wage deal with unions on Friday, the JSE-listed miner said in an announcement.
Running from March to end-February 2030, the agreement was described by Gold Fields as a milestone. It was signed with the National Union of Mineworkers and the United Association of South Africa.
Under the agreement, employees in Categories 4 to 8 will receive pay increases of 10% in year one, 7.2% in year two, 7.1% in year three, and 7% in each of years four and five, said Gold Fields.
Workers classified as miners, artisans and officials will get 6.2% in the first year and 6% annually thereafter. Housing allowances will also rise progressively, from R5,570 a month in year one to R6,900 by year five. The package includes further benefit improvements and a once-off cash payment, the group said.
South Deep executive vice president Benford Mokoatle said the outcome reflected genuine engagement between the parties and would give both employees and the business long-term certainty, while stressing the need for continued investment in safety and skills given the industry’s cyclical nature.
NUM PWV regional secretary Senzo Mncwango called it a historic deal securing above-inflation increases and job stability, while UASA’s Themba Shihlongonyane thanked Gold Fields’ negotiators for ensuring a fair outcome for members.
