Pan African settles with Barberton workers

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Pan African settles with Barberton workers

Published Date: 2017-10-19 | Source: Stephen Gunnion | Author: Stephen Gunnion

Pan African settles with Barberton workers

Pan African says it would have preferred a longer-term wage deal

Pan African Resources says its Barberton Mine has reached a one-year wage deal with the National Union of Mineworkers, which will replace the previous two-year agreement that expired at the end of June. It says the agreement is in addition to a three-year deal with the United Association of South Africa. The average wage increase for all employees at the mine will amount to about 8% a year, backdated to July 1.

Although miners downed tools for two and a half days during the negotiations, Pan African says the stoppage is not expected to affect its production guidance of 190 000 ounces for the year to June 2018.

Related article: Pan African buffeted by currency headwinds

Pan African CEO Cobus Loots told miningmx that the group would have preferred a longer-term wage deal with the union, but the current state of flux in the country had affected wage negotiations. Negotiations were also influenced by a wage settlement it is expected to reach with workers at its Evander Gold Mines next year, under the auspices of the Chamber of Mines.

Its shares gained 1.7% yesterday to close at R2.44.



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