Sibanye to tie wage increases to inflation
Mining company vows to end its tendency since its launch in 2013 to agree during negotiations with striking workers to pay hikes higher that inflation
Platinum and gold miner Sibanye-Stillwater, which had to close down its gold mining operations in SA for more than three months this year during protracted wage negotiations, says the company cannot continue to pay above-inflation wage increases as it has done since the company was established in 2013.
During the industrial action, Sibanye, the world’s largest primary producer of platinum and third-largest producer of gold, implemented a lockout of all employees at its gold operations in SA as the wage negotiations were being held. This resulted in gold production falling 63% year on year for the six-month period to end-June 2022...
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