Mid-tier platinum group metals producer, Royal Bafokeng Platinum (RBPlat), has concluded a further five-year wage agreement with its permanent employees, represented by the National Union of Mineworkers (NUM).
This agreement, it said, had been achieved through a collaborative process exemplified by mutual respect between RBPlat and NUM, and will provide RBPlat with five years of stability.
“The company acknowledges with appreciation to the union the maturity with which these very difficult negotiations were conducted. The agreement removes substantial uncertainty for our employees into the future and allows the company’s employees to remain focused on safety and productivity.
“Both parties are committed to working towards ensuring a sustainable business that will create long-term value for all our stakeholders.”
The agreement which is effective from 1 July 2019, increases all major components of remuneration over the next five years, with employees receiving an increase in their annual salary of 7% in year 1, 6% in year 2, 6% in year 3, 7% in year 4 and 7% in year 5. In recognition of potential entry level minimum wage disparities between some of its employees and their industry peers, the entry level minimum wage will increase.
“Those employees whose remuneration falls below the entry level minimum wage after the application of the above increases, will receive upward salary adjustments. Other areas of improvement will be in the medical aid and housing allowances which will increase in line with repayments of the homes at our employee housing estate.”
Both parties have agreed that a review will be undertaken in year 3 to ensure that increases for the remaining two years are in line with the consumer price index prevailing at that time.