Anglo Platinum has offered to raise the wages earned by its South African staff to counter the acceleration of consumer inflation.

According to the trade union Solidarity, Anglo Platinum has agreed to increase wages by 10.4 per cent rather than the eight or nine per cent it had planned on.

Reint Dykema, spokesman for Solidarity, said that inflation had been discussed with the bosses at Anglo Platinum.

"Due to the drastic rise in inflation in 2008 employees struggled to make ends meet," he explained.

But the platinum mining firm will not enter into further negotiations over wages for the next two years after a two-year agreement was reached.

"The price of platinum also supports Anglo Platinum's step. Labour peace before 2010 is important," he added.

UASA, another trade union, welcomed the move by Anglo Platinum and said it would help workers to manage the cost of living.

"This gesture by Anglo Platinum will help alleviate the plight of workers," Franz Stehring, a spokesperson for the Union, said.



Source:

DJ Angloplat To Lift Worker Wages To Offset Inflation - Union, 23/06/08
http://www.tradingmarkets.com/.site/news/Stock%20News/1705923/

Angloplat tops up wage increase, 23/06/08
http://www.iol.co.za/index.php?set_id=1&click_id=594&art_id=nw20080623153642361C890622

Solidarity welcomes salary adjustment, 23/06/08
http://bushradionews.blogspot.com/2008/06/solidarity-welcomes-salary-adjustment.html