Petmin concludes wage negotiations with unions
JOHANNESBURG (miningweekly.com) – JSE-listed Petmin’s subsidiary, Tendele Coal Mining has concluded two-year wage negotiations with trade unions Association of Mineworkers and Construction Union (AMCU) and National Union of Mineworkers (NUM), while signing a three-year deal with Solidarity, at its Somkhele anthracite mine, near Richards Bay.
Under the terms of the AMCU and NUM deal, the company would increase basic wages by 7.5% in 2015/16, with a further 7.5% increase due in 2016/17.
This agreement also improved medical benefits, housing allowance and other benefits for eligible employees from July 1, which together with the basic wage increase, resulted in an increase in total cost to company (TCTC) of 8.6% for 2015/16 and 6.5% for 2016/17.
The parties previously reached a deadlock at the Commission for Conciliation, Mediation and Arbitration and both unions and management opted for private mediation to break the deadlock.
"The wage agreement provides much needed stability and certainty during very volatile times in the ‘commodities world’, and we thank both AMCU and NUM and independent mediator SCC Group CEO Fred Arendse for the manner in which the negotiations were concluded,” noted Petmin CEO Jan du Preez.
Under the terms of the three-year Solidarity agreement, employees would receive a 6% increase in TCTC for 2015/16, a 6.5% increase in TCTC for 2016/17 and a 7% increase in TCTC for 2017/18.
Meanwhile, Petmin’s R350-million black economic-empowerment ownership scheme, which gave workers and communities around Somkhele a 20% stake in Tendele, was benefiting the children of the almost 175 000 people working for and living around the mine.
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