Lonmin agrees wage deal with South African miners’ union
Platinum miner Lonmin (LON:LMI) said it signed a two-year wage agreement with the South African National Union of Mineworkers (NUM) last Friday evening.
In the first year of the agreement, which will be backdated to October 1 2011, employees will receive pay increases and improvements in benefits of up to 10 percent, depending on their job grades.
The figures, which will also apply to year two of the agreement, are in line with industry wage settlements, Lonmin said.
The agreement also includes higher housing allowances for qualifying workers.
Lonmin and the NUM have established a number of working groups to examine various issues around conditions and benefits for employees.
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