The largest union on the platinum belt, the Association of Mineworkers and Construction Union, has reached a three-year wage deal with the biggest platinum producer, Anglo American Platinum. The deal gives the lowest-paid workers an annual increase of 12.5% in basic pay backdated from July 1 2016 and effective until 2018. Because Sibanye has acquired Amplats' Rustenburg mines, the agreement is binding on Sibanye as well. Sibanye spokesman James Wellsted said the deal was costlier than the company had anticipated, but it was a "reasonable" increase. "A three-year wage deal is quite positive because it will give us time to get into and integrate these operations and try to realise the synergies between them [the Rustenburg mines] and Kroondal without the distractions of wage negotiations for the next three years," he said. Setendra Naidoo, a resources analyst at Capricorn Fund Managers, said the deal with Amplats had to be concluded faster than with the other two big platinum companie...
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