[miningmx.com] — IMPALA Platinum said on Monday it has reached a two-year wage deal with the National Union of Mineworkers (NUM), averting a possible a strike at the miner.
Implats said the agreement was for increases of between 8.5% to 10% for the first year, and 8% and 10% for the second year, depending on worker category.
The company said the deal also applied to its operating subsidiaries Impala Platinum and Marula Platinum.
NUM had asked for 14% increases across the board.
The agreement is in line with wage settlements in South Africa’s mining industries, including gold and coal, which have largely been in the 8% to 10% range this year, or close to double the inflation rate.
Implats produces about 1.8 million ounces of platinum a year or over a quarter of the global supply and so markets keenly monitor any disruption to its operations.
NUM is still engaged in wage talks with Northam Platinum .
Implats’ bigger rival Anglo American Platinum made a similar settlement with the union last month.
