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Gold wage negotiations: Round no 2

Franz Stehring reports that the respective mining companies presented their current financial and life of mine profiles in response to organized labours’ demands, where after the Minerals Council of South gave the following feedback:

Harmony, the country’s third largest gold producer (and employs the largest number of workers) made the biggest offer of adjusting wages by R500 for the first year (this equates to a 6.5% hike on basic pay underground category 4 to 8 employees) Thereafter, salaries will be adjusted similarly by R525 for the second year and R550 for third year.

AngloGold Ashanti and Village Main tabled the same offer - 5.5% adjustment (R450) for the first year and then R475 for second year and R500 the third year, while Sibanye-Stillwater, who has been hit by stoppages due to fatal underground incidents, offered R450 in the first year (5.6%), R450 in the second year and R475 in the third year.

The unions took note and will respond at next week’s session scheduled for 24 July 2018. 

We will keep you informed of developments. Feel free to contact your local FTUR or branch for more information in the meantime.