| Wage settlement concluded at Northam’s Zondereinde mine | |
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Published on 30 July 2015
Johannesburg, 30 July 2015: Northam Platinum is pleased to advise that wage negotiations at its Zondereinde mine have been concluded with the representative union, the National Union of Mineworkers.
The three-year agreement provides for increases on basic wages and allowances of 13.0% for entry level underground employees in year one, 11.6% in year two and 10.5% in year three.
Supervisory employees will receive a basic increase of 7.5% per year for each of the three years.
Northam chief executive Paul Dunne said today: "This is a good outcome for both employees and the company as it provides certainty and allows all stakeholders to focus on the sustainability of the business going forward. We also recognise the mature and constructive manner in which engagement has been undertaken."
Issued by
Russell & Associates
Johannesburg
Tel +27 (0)11 880 3924
Marion Brower +27 (0) 82 895 0698
Charmane Russell +27 (0) 82 372 58164
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Northam Platinum Ltd
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PRODUCER |
CODE : NOC.BE |
ISIN : ZAE000030912 |
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Northam Platinum is a platinum producing company based in South africa. Northam Platinum holds various exploration projects in South Africa. Its main asset in production is NORTHAM MINE in South Africa and its main asset in development is BOOYSENTHAL in South Africa. Northam Platinum is listed in Germany, in South Africa and in United States of America. Its market capitalisation is €UR 1.8 billions as of today (US$ 2.2 billions, € 1.8 billions). Its stock quote reached its lowest recent point on December 18, 2015 at €UR 1.16, and its highest recent level on September 08, 2021 at €UR 10.50. Northam Platinum has 174 810 000 shares outstanding. |