Anglo Platinum has secured an agreement with the National Union of Mineworkers (NUM) over employees' wages, it has been reported.

Reuters reports that a deal has been reached, meaning a strike at the world's biggest producer of platinum will be avoided, reducing concerns over possible impact on production levels this year.

NUM general secretary Oupa Komane said that the deal will see mineworkers receive between 8.5 per cent and ten per cent wage increases in the first year, followed by further rises of eight per cent and nine per cent in the second year.

The NUM had been keen to secure double-digit increases in wages for its members.

According to Mineweb, however, Mr Komane told Reuters: "The leadership that has led this negotiation has demonstrated maturity."

The agreement should help to reduce concerns about future supplies of platinum, as the two largest platinum producers in the world have now come to settlements with South Africa's largest union, the NUM.

Sources:

Anglo Platinum reaches pay deal with union, 8/08/07
http://www.mineweb.net/mineweb/view/mineweb/en/page35?oid=24923&sn=Detail

Platinum Companies Agree to Wage Deals, 8/08/07
http://www.forbes.com/feeds/ap/2007/08/08/ap4001178.html

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