Impala Platinum signs five-year wage dealImpala Platinum on Tuesday, 28 June, said it had agreed to a five-year wage deal with the Association of Mineworkers and Construction Union (Amcu). Source: Rudi Suardi © 123RF.com "The agreement is in line with current mining inflation of (about) 6.5% and considers the reality of sustained inflationary pressures faced by our employees," Impala said in a statement, adding that the wage deal takes effect on 1 July. The pay deal covers increases in basic salaries, living-out and home-ownership allowances, medical aid and pension fund contributions, the company said, without providing specific figures. Impala said the agreement secures five years of stability at its operations in South Africa, a country where strikes have often interrupted mine production. Last month, Anglo American Platinum also agreed to a five-year pay deal with unions. |