Impala Platinum has announced that the final details of the wage agreement with the National Union of Mineworkers (NUM) have now been concluded.

The company stated last week that a deal offering between eight and ten per cent wage increases had been agreed in principle, with only some finer details to be worked out.

However, the company has now revealed that those details have been concluded and the company has signed the agreement with the NUM and the United Associations of South Africa (UASA).

Under the terms of the deal, all class A and B workers will receive wage increases of ten per cent, while class C employees will receive an eight per cent growth during the first year. In the second year, increases will be 7.25 per cent for C level workers and 8.5 per cent for class A workers.

There will also be a comprehensive affordable housing initiative established by Impala Platinum for its workers.

Source:

Implats wage settlement, 8/08/07
http://www.implats.co.za/im/press/display.asp?id=208

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