THARISA, a platinum group metal (PGM) and chrome miner and marketer, has signed a new two-year wage agreement with the Association of Mineworkers & Construction Union (AMCU) effective from July 1 this year until June 2020.
“The successful conclusion of the agreement is a positive development for the Tharisa group and the affected employees,” the company said in an announcement to the JSE. The negotiations were conducted “… in a constructive manner,” it added.
AMCU began a strike at the gold mines of Sibanye-Stillwater last week following a failure to sign a three-year wage agreement.
Tharisa, which announces full-year numbers on November 28, paid a two US cents per share interim dividend today, equal to an outlay of $5.2m, at the half-year stage. It was on track to meet 2018 production guidance of 150,000 ounces of PGMs and 1.4 million tonnes of chrome concentrates.
“The agreement underpins the ongoing stability of Tharisa’s labour relations and allows the Tharisa Mine to focus on growing the business for the benefit of all stakeholders,” the company said in its announcement.
