Anglo American Platinum Signs Wage Agreement With Union
October 28 2016 - 3:07AM
Dow Jones News
By Tapan Panchal
LONDON--Anglo American Platinum Ltd. (AMS.JO) said Friday that
it has signed a three-year wage agreement with the Association of
Mineworkers and Construction Union, retrospectively effective from
July 1.
The agreement includes annual pay increases for workers ranging
from 12.5% to 7%, living out allowances, medical aid contributions
and holiday leave allowances.
The South African platinum producer anticipates the agreement to
increase its labour costs by 6.74% on average over the three-year
period. It has extended the wage agreement to the National Union of
Mineworkers, the United Association of South Africa and non-union
affiliated employees in line with labour regulations.
Write to Tapan Panchal at tapan.panchal@wsj.com
(END) Dow Jones Newswires
October 28, 2016 02:52 ET (06:52 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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