20th Sep 2022 13:14
(Alliance News) - Thungela Resources Ltd said on Tuesday it had signed a three-year wage agreement with the National Union of Mineworkers, which represents 86% of unionised employees at the Rosebank-based coal miner
The agreement, which is effective from June 1, 2022 to the end of May 2025, is expected to increase the total labour cost-to-company, on average, by about 6% per annum over the three-year period.
The new wage deal covers Thungela's operations other than Mafube, which runs a separate wage negotiation process.
"We are very pleased to have reached an agreement with our employees and I thank the NUM for their collaboration and constructive engagement during the wage negotiation process," Thungela Chief Executive July Ndlovu said.
Its shares were 0.2% higher at 1,827.00 pence each in London on Tuesday afternoon. In Johannesburg, the stock rose by 0.9% to ZAR376.99.
By Artwell Dlamini; [email protected]
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