Sibanye-Stillwater Welcomed End of Strike at SA Gold Operations

SEATTLE (Scrap Monster): The three-month long strike action at SA gold operations is set to come to an end. In a mass meeting which took place at the Masizakhele Stadium at its SA gold operations, the members belonging to AMCU and the NUM gave union leadership a mandate to accept a three-year wage proposal made by the Commission for Conciliation, Mediation and Arbitration (CCMA).

According to the proposal, employees belonging to Category 4-8 will be paid an increase in wages of R1,000 in the first year, which amounts to a 7.7% increase. It also promises increase of R900 and R750 in the second and third year, amounting to an increase of 6.5% and 5.2% respectively.

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Meantime, miners, artisans and official will receive an increase of 5% in the first year, followed by 5.5% or CPI, if the CPI falls between 5% and 5.5% in the second year and 5% in the third year. If the CPI is greater than 5.5%, the increase will be limited to 5.5% in the second year.

Also, Category 4-8 employees will receive a one-off hardship allowance payment of R3,000 out of which R1,200 will be paid in cash and the remaining R1,800 to be adjusted against debt or loans owed by them to the company.

The agreement now has to be e formally concluded by Sibanye-Stillwater and the leadership of AMCU and the NUM. It will help SA gold operations to return to stability and profitability.