The three-month long Sibanye-Stillwater strike and lockout has come to an end after a three-year wage agreement was struck between the metals mining company and the Association of Mineworks and Construction Union (Amcu) and the National Union of Mine Workers (Num), effective from 1 July 2022.
Sibanye-Stillwater confirmed in a Sens statement issued on Monday that the agreement involves an inflation-related increase of 6.3% over the course of three years, broken down as follows:
- Category 4-8 employees will receive an increase of R1 000 in the first year, which equates to a 7.7% annual increase
- R900 in year two, a 6.5% annual increase and
- R750 in the third year, a 5.2% annual increase
- Miners, artisans and officials will receive an average increase of 5% in the first year, a 5.5% increase in year two and 5% in the third year of the agreement.
The JSE-listed company says miners, artisans and officials will also receive the once-off hardship allowance of R3 000 proposed by the CCMA (Commission for Conciliation, Mediation and Arbitration), which is extended to employees in categories 4-8.
According to the mining company, the hardship allowance consists of a guaranteed R1 200 cash payment with a balance of up to R1 800 assigned to the reduction of employee debt or loans that the company incurred in ensuring that other medical aid contributions and risk benefits were covered during the lockout.
“The final agreement will also be extended to all members of UASA (United Association of South Africa) and Solidarity.”
Group CEO Neal Froneman says the company looks forward to restarting its gold operations in South Africa for the benefit of all stakeholders.
“We thank the CCMA for the mediation role which resulted in a fair outcome [for] all stakeholders. We are pleased to have achieved an agreement which is in line with inflation, and which will contribute significantly to the sustainability of our gold operations.”
Nondumiso Lehutso is a Moneyweb intern.