The National Union of Mineworkers (NUM) of South Africa declared on Wednesday that it had successfully negotiated and agreed upon a wage deal with Sibanye Stillwater’s SSWJ.J gold operations following months of discussions.
According to NUM’s statement, the diversified miner, Sibanye, has consented to raise the monthly pay of its lowest-paid workers by 900 rand ($50.91). Additionally, miners, artisans, and officials will receive a 5.5% pay increase.
NUM, along with its rival unions such as the Association of Mineworkers and Construction Union (AMCU), Solidarity, and UASA, had been jointly engaged in negotiating a new wage deal to supersede a three-year agreement that expired in June.
The one-year agreement is slated to be signed in Johannesburg on Nov. 8, as per NUM’s announcement.
However, Sibanye, AMCU, Solidarity, and UASA were not immediately reachable for providing comments.
It’s worth noting that in 2022, Sibanye’s gold output witnessed a significant decline of 42% subsequent to a three-month wage strike.
On Tuesday, Sibanye reported a nearly 300% growth in third-quarter earnings from its gold operations, with the figure reaching 1.35 billion rand from 344 million rand during the same period last year. This increase was primarily driven by a 24% hike in the gold price, which managed to counterbalance the effects of lower production and higher costs.
South Africa’s Sibanye Reaches Wage Deal for Gold Operations with NUM, Union Announces