OREANDA-NEWS.  Anglo American Platinum Limited (“Anglo American Platinum” or “the Company”) is pleased to announce that the National Union of Metalworkers of South Africa (“NUMSA”) has accepted the terms of the Company’s wage offer and ended a peaceful wage negotiation process by signing an agreement with the Company today.

The offer, which was accepted in December 2013 by the National Union of Mineworkers (“NUM”) and the United Association of South Africa (“UASA”), will be applied to all employees in the NUMSA bargaining unit. The agreement stipulates the wages and other conditions of employment for operational employees for the period 1 July 2013 to 30 June 2015 and equates to wage increases of:

8.5% per annum increase for A to B2 employees
8% per annum increase for B3 to B7 employees
7.5% per annum increase for C to D1 employees

From Year 2, an 8% increase for all employees

Chris Griffith, CEO of Anglo American Platinum, said: “We are delighted that NUMSA has accepted our offer and realises that we have provided a fair and reasonable offer to our employees within our financial constraints. We would like to acknowledge the contribution and support of our stakeholders, government, the CCMA and NUMSA for all working together to enable us to settle this wage agreement, which allows us to continue to build a sustainable company for the future.”

The industrial action by the Association of Mineworkers and Construction Union (“AMCU”) is on-going and the Company is working towards reaching a solution that is affordable and satisfies all stakeholders. The Company acknowledges the revised wage demands by AMCU but these remain unaffordable. The increases on offer are already significantly above the current inflation rate and therefore the Company encourages AMCU to also accept the current offer.