The wage agreement Anglo American Platinum (Amplats) reached with its workforce has given hope to other platinum miners that they may be able to reach similar deals soon, avoiding the disruptions that marked the 2013 round of talks. Amplats, a subsidiary of Anglo American, confirmed Thursday evening’s statement from the Association of Mineworkers and Construction Union (Amcu) that a wage agreement had been struck with the world’s largest platinum producer. The Amplats agreement, which will be rolled out across the company, will increase the company’s labour bill by 6.71% in the first year, 6.56% in the second and 6.96% in the third, giving a 6.74% average over the period of the agreement. "The current economic environment continues to place significant pressure on platinum mining companies, as well as mineworkers," said Amplats CEO Chris Griffith. "We are glad to have achieved an agreement that is fair to our employees, benefiting the lowest-paid workers the most with a 12.5% increa...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.