Implats indicators five-year wage cope with South African union (OTCMKTS:IMPUY)

Platinum bars

JulyVelchev/iStock through Getty Photos

Impala Platinum (OTCQX:IMPUY) stated on Tuesday it signed a five-year wage settlement with the AMCU union in South Africa for its working subsidiaries Marula and Impala Rustenburg, Mining Weekly stories.

Implats stated the settlement is in step with present inflation of 6.5% and “considers the fact of sustained inflationary pressures confronted by workers.”

The settlement offers for will increase to salaries, living-out and home-ownership allowances, medical support contributions, pension fund contributions and funeral cowl.

Implats (OTCQX:IMPUY) CEO Nico Muller stated the settlement ensures 5 years of secure manufacturing and monetary planning at its operations.

AMCU earlier secured a five-year wage deal with Anglo American Platinum, leaving Sibanye-Stillwater because the final main platinum producer to conclude a wage settlement with the union.

Two weeks in the past, Sibanye signed a three-year wage cope with AMCU that ended a lockout on the miner’s South African gold operations.


Please enter your comment!
Please enter your name here