Impala Platinum has averted industrial action at its South African facilities after reaching an agreement over a wage dispute.

The world's second largest platinum producer had been at loggerheads with the National Union of Mineworkers, which represents 24,000 of the company's 30,000-plus workforce.

However, a deal was struck on Saturday (21st August) which will see the highest-paid workers receive a 7.5 per cent pay rise and the lowest-paid staff getting an eight per cent increase.

The union had demanded a 15 per cent rise across the board in mediation talks with the firm and later lowered this to ten per cent, before settling on Impala's original offer.

Reports suggest the two parties will now hold further discussions via a task team to find common ground over workers' concerns in relation to housing and transport allowances.

Impala Chief Executive Bob Gilmour has dismissed the union's claims that a R900 housing allowance is automatically deducted from employees' wages, even if they did not stay at the company's hostels.

"If you don't stay in the hostel there will not be a deduction," he said in an interview with Business Report.

"We do encourage people to live in their own accommodation. We promote home ownership."

Impala currently relies on the platinum-rich Bushveld Complex in South Africa for the vast majority of its production of the precious metal.

Sources:



Settlement averts strike at Implats (23/08/10)



Impala Platinum Reaches Wage Settlement With Mineworkers, Union Says (21/08/10) 

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