Anglo Platinum has completed its wage negotiations with the National Union of Mineworkers (NUM).

Under the terms of the agreement, workers in the A and B bands will see their wages increased by ten per cent, while those in C and D bands will be subject to an 8.5 per cent increase.

Meanwhile, workers in A and B bands will see their wage increase by a further nine per cent next year, with the C and D bands' wage packets rising by eight per cent.

The increases mean that the minimum wage paid to the firm's employees now stands at 3,000 rand and 3,200 rand for surface and underground workers respectively.

Anglo also confirmed that it has agreed to a new home owner allowance scheme, which will take the place of the existing living out allowance.

Employees deemed eligible for the scheme will be paid 25 per cent of the minimum rate of the grade, with a guaranteed minimum of 1,500 rand per month.

The move is aimed at encouraging employees to buy their own homes.

Sources: Anglo Platinum signs wage deal with SAfrica's National Union of Mine Workers, 24/08/07
http://www.forbes.com/afxnewslimited/feeds/afx/2007/08/24/afx4052001.html
Angloplat wage dispute ends, 24/08/07
http://www.fin24.co.za/articles/default/display_article.aspx?ArticleId=1518-24_2170722

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