Aquarius, NUM reach Kroondal wage agreement
JOHANNESBURG (miningweekly.com) – Aquarius Platinum has reached a wage agreement with the National Union of Mineworkers (NUM) regarding its members who are employed at the Kroondal mine.
The mine employs about 8 120 people, including contractors. The NUM represents the majority of the mine’s Category B semiskilled workforce.
Aquarius and the NUM agreed on an increase that slightly exceeds the increase in the cost of living, as measured by the inflation rate.
The one-year wage deal would come into effect on July 1.
Negotiations in relation to the 970 skilled or Category A employees, will start in the coming weeks.
Liberum Capital commented that this was a great result and a surprise to the upside for Aquarius, which, if replicated across the broader industry, could result in a long-overdue outperformance.
"The negotiations have been concluded in a positive manner with both NUM and the South African government, which bodes well for the industry, and specifically for negotiations going forward. Nevertheless, we add a note of caution in regard to ongoing Association of Mineworkers and Construction Union negotiations elsewhere in the industry, where a positive resolution is yet to be demonstrated. We expect Aquarius to see a positive response from the market today, particularly given that the general consensus was that the negotiations would not be completed without disruptive striking," it said in a note.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Research Reports
Projects
Latest Multimedia
Showroom
Rentech provides renewable energy products and services to the local and selected African markets. Supplying inverters, lithium and lead-acid...
VISIT SHOWROOM
For over 60 years, VEGA has provided industry-leading products for the measurement of level, density, weight and pressure. As the inventor of the...
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
