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Anglo American Platinum signs three-year wage agreement with unions

15 November, 2019

Anglo American Platinum Limited (“Anglo American Platinum” or the “Company”) announces that it has signed a three-year wage agreement with the recognised unions at its operations, namely the Association of Mineworkers and Construction Union (“AMCU”), the National Union of Mineworkers (“NUM”) and UASA – The Union (“UASA”). 

Chris Griffith, CEO of Anglo American Platinum, said: “We are very pleased to have reached an agreement, and we welcome the collaborative and constructive engagements with the unions throughout the process. We believe this agreement will ensure the business can remain sustainable through the typical PGM price cycles, while our employees will benefit from meaningful pay and other increases.”

The agreement includes:

  • An annual increase of R1,000 per month in basic pay in years 1, 2 and 3 for bargaining unit employees, or 5.5%, whichever is greater for each year of the agreement;
  • The base on which salary-related allowances and pension contributions are calculated will increase over the three-year period to bring it back in line with basic wages; and
  • An ex-gratia payment of R1,000 in July 2020 and R1,500 in July 2021.

The agreement will increase the total labour cost-to-company by 7.4% in year 1, 6.1% in year 2 and 6.3% in year 3, or 6.6% on average over the three years.

For further information, please contact:

Investors: Media:
Emma Chapman
Tel: (SA) +27 (0) 11 373 6239
Email: [email protected]
Jana Marais
Tel: (SA) +27 (0)79 932 1586
Email: [email protected]

Notes to editors:

Anglo American Platinum Limited is a member of the Anglo American plc Group and is a leading primary producer of platinum group metals. The company is listed on the Johannesburg Securities Exchange (JSE). Its mining, smelting and refining operations are based in South Africa. Elsewhere in the world, the Group owns Unki Platinum Mine in Zimbabwe. Anglo American Platinum has a number of joint ventures with several historically disadvantaged South African consortia as part of its commitment to the transformation of the mining industry. Anglo American Platinum is committed to the highest standards of safety and continues to make a meaningful and sustainable difference in the development of the communities around its operations.

www.angloamericanplatinum.com

Anglo American is a leading global mining company and our products are the essential ingredients in almost every aspect of modern life. Our portfolio of world-class competitive mining operations and undeveloped resources provides the metals and minerals that enable a cleaner, more electrified world and that meet the fast growing consumer-driven demands of the world’s developed and maturing economies. With our people at the heart of our business, we use innovative practices and the latest technologies to discover new resources and mine, process, move and market our products to our customers around the world – safely, responsibly and sustainably.

As a responsible miner – of diamonds (through De Beers), copper, platinum group metals, iron ore, coal, nickel and manganese – we are the custodians of what are precious natural resources. We work together with our business partners and diverse stakeholders to unlock the sustainable value that those resources represent for our shareholders, the communities and countries in which we operate, and for society as a whole. Anglo American is re-imagining mining to improve people’s lives.

www.angloamerican.com