The National Union of Mineworkers (NUM) has accepted a wage increase of up to 9.5%, as well as a R3 000 one-off payment spread over two years, effectively ending its 11-week-old strike at Northam Platinum, reports Business Day Live.
“The strike, characterised by unity, peace and harmony, has come to an end,” the union said in a statement on Friday.
The strike action commenced on 3 November, with nearly 7 000 NUM members downing tools at Northam’s Zondereinde mine near Thabazimbi.
The union settled with Northam after the platinum producer increased its offer by 50 basis points to increase wages for core workers by 9.5%, and 8.5% for non-core workers.
Northam has reportedly lost revenue of nearly R700 million, while workers have forfeited wages of more than R130 million in the longest strike yet at the company.
NUM rival, the Association of Mineworkers and Construction Union (AMCU), is pursuing strike action at Anglo American Platinum, Impala Platinum and Lonmin.