Anooraq Resources announced yesterday (20th October) that it has reached an agreement on a new wage deal for workers at its Bokoni Platinum Mines.

The company conducted negotiations under the watchful eye of Anglo Platinum - the world's largest platinum producer - after assuming management of the site on 1st July.

Following discussions with three prominent unions, the employees will now be handed a pay rise of between nine and ten per cent in the first 12 months of a two-year agreement.

In the second year, the increase will be scaled down to between 7.5 per cent and eight per cent or the Consumer Prices Index plus two per cent, whichever figure is greater.

Furthermore, the deal included accordance on minimum wages, living-out allowances and the subsidising of home ownership.

"Anooraq is pleased that the parties were able to reach a realistic wage agreement, without any industrial action," read a statement from the company.

The National Union of Mineworkers, the National Union of Metalworkers of South Africa and the United Association of South Africa were all involved in the negotiations.

Anooraq is currently pursuing two pgm exploration projects in South Africa - the Ga-Phasha project and the Boikgantsho joint venture.

Source:

Anooraq announces wage agreement reached at Bokoni Platinum mines (20/10/09)

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