IMPALA Platinum Holdings, the world's second largest platinum producer, has agreed to raise the wages of its lowest paid workers by 10%.
Announcing the conclusion of a two-year wage agreement, the company said it and its operating subsidiaries Impala Platinum and Marula Platinum and the National Union of Mineworkers had agreed on increases in basic pay of 10% for A- and B-level and 8.5% to C level employees along with various amendments to other benefits in the first year.
Increases on basic pay of 10%, 9% and 8% to A-, B- and C-level employees respectively would be made in the second year of the agreement.
The NUM had initially demanded a 14% increase over a one-year deal while the company offered a 6.5% improvement in the lowest wage and wanted a three-year deal.
Impala in wage deal
IMPALA Platinum Holdings, the world's second largest platinum producer, has agreed to raise the wages of its lowest paid workers by 10%.
Announcing the conclusion of a two-year wage agreement, the company said it and its operating subsidiaries Impala Platinum and Marula Platinum and the National Union of Mineworkers had agreed on increases in basic pay of 10% for A- and B-level and 8.5% to C level employees along with various amendments to other benefits in the first year.
Increases on basic pay of 10%, 9% and 8% to A-, B- and C-level employees respectively would be made in the second year of the agreement.
The NUM had initially demanded a 14% increase over a one-year deal while the company offered a 6.5% improvement in the lowest wage and wanted a three-year deal.