South Africa's Assmang to increase wages by 8 pct - union

  • Reuters
  • Stock Market News
South Africa's Assmang to increase wages by 8 pct - union
Credit: © Reuters.

JOHANNESBURG, Sept 22 (Reuters) - Mineworkers at South Africa's Assmang have signed a wage deal to increase pay by 8 percent, the largest labour union in the mining sector said on Friday.

Assmang, in which Assore ASRJ.J and African Rainbow Minerals ARIJ.J each hold a 50 percent stake, mines iron ore and manganese at three mines in South Africa's Northern Cape province.

The National Union of Mineworkers (NUM) has signed a three-year wage agreement for the lowest paid workers, amounting to an 8 percent wage increase in the first and second year each and 7 percent in the third year, the union said in a statement.

"We have also secured once-off 10,000 rand ($757) cash tax-free to our members," the NUM said.

($1 = 13.2120 rand)

Add Chart to Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Drop an image here or Supported formats: *.jpg, *.png, *.gif up to 5mb

Error: File type not supported

Drop an image here or

100
Please try another search