The world's largest platinum producer, Anglo American Platinum (Amplats), said today (September 7th) that it has formally inked a two-year wage deal with unions in South Africa, safeguarding 2.6 million ounces of production annually.

Three key unions agreed to the terms offered by the miner, which will see the lowest paid workers receive ten per cent more in the first year.

The National Union of Mineworkers, the National Union of Metalworkers of South Africa and the United Association of South Africa signed the deal.

In addition to a ten per cent pay hike for the lowest earners, higher-paid employees will receive an 8.5 per cent wage increase in the first year, moving to nine per cent and eight per cent respectively in year two.

Amplats chief executive officer Neville Nicolau told Mining Weekly that the firm remains "fully committed" to the wellbeing of its employees.

He said: "We are committed to eliminating mine accidents and fatalities and believe that we can only achieve this by working closely with our tripartite partners in labour and government to develop sustainable solutions to achieving our ambition of zero harm."

Wage negotiations at Northam Platinum and Lonmin are ongoing, while talks between unions and Impala Platinum have been sent to arbitration.

Sources:

Amplats signs wage deal with SA unions (07/09/11)

Amplats formally signs wage deals (07/09/11)

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