Impala Platinum (Implats) – the world’s second largest platinum producer – has reached a two year wage settlement for its refinery operations near Springs with the National Union of Mineworkers (NUM).
The NUM is the majority representative union at Impala’s refinery operation which employs some 1,000 workers of whom about 500 are NUM members. The agreement is backdated to the beginning of July this year and will run to the end of June 2018.
In terms of the deal the basic wage component of employees will increase between 7.5% and 10% annually with entry-level employees benefiting from higher percentage increases. Other benefits, such as medical and housing allowances will increase by 7% and between 4% and 7% per annum respectively over the two year period.
According to Implats group executive – corporate relations Johan Theron, “ the signed wage agreement provides a reasonable compromise between employee expectations, current wage inflation and the economic realities that dictate the financial sustainability of our business.”
