Gold Fields seals 5-year wage deal with unions at South Deep

GOLD Fields’ South Deep mine agreed a five-year wage deal with unions on Friday, the JSE-listed miner said in an announcement.Running from March to end-February 2030, the agreement was described by Gold Fields as a milestone. It was signed with the National Union of Mineworkers and the United Association of South Africa.Under the agreement, employees in Categories 4 to 8 will receive pay increases of 10% in year one, 7.2% in year two, 7.1% in year three, and 7% in each of years four and five, said Gold Fields.Workers classified as miners, artisans and officials will get 6.2% in the first year and 6% annually thereafter. Housing allowances will also rise progressively, from R5,570 a month in year one to R6,900 by year five. The package includes further benefit improvements and a once-off cash payment, the group said.South Deep executive vice president Benford Mokoatle said the outcome reflected genuine engagement between the parties and would give both employees and the business long-term certainty, while stressing the need for continued investment in safety and skills given the industry’s cyclical nature.NUM PWV regional secretary Senzo Mncwango called it a historic deal securing above-inflation increases and job stability, while UASA’s Themba Shihlongonyane thanked Gold Fields’ negotiators for ensuring a fair outcome for members.The post Gold Fields seals 5-year wage deal with unions at South Deep appeared first on Miningmx.Weiter zum vollständigen Artikel bei Mining.com Weiter zum vollständigen Artikel bei Mining.com