JOHANNESBURG, Nov. 18, 2016 /CNW/ - Atlatsa Resources
Corporation ("Atlatsa") (TSX: ATL; JSE: ATL) is pleased to announce
that Bokoni Platinum Mines (Proprietary) Limited ("Bokoni Mine")
has concluded a two-year wage agreement ("the Agreement") with the
National Union of Mineworkers (NUM), Togetherness Amalgamated
Workers Union of South Africa
(TAWUSA) and the United Association of South Africa (UASA) retrospectively effective
from 1 July 2016. The Agreement has
been extended to all non-union affiliated employees in terms of
section 23 of the Labour Relations Act 66 of 1995.
The Agreement includes*:
Increase in basic pay
Band
|
2016
|
2017
|
A1 – B7
|
ZAR850 per
month
|
ZAR1 000 per
month
|
C1 – D1
|
6% per
annum
|
6.5% per
annum
|
Increase in allowances (per month)
Allowances
|
2016
|
2017
|
Living out
allowance
|
ZAR50
|
ZAR100
|
Home ownership
allowance
|
ZAR50
|
ZAR100
|
Medical aid
contributions
|
5%
|
5.5%
|
Transport
allowance
|
ZAR30
|
ZAR50
|
Dog handlers
allowance
|
-
|
ZAR50
|
* Currency values are presented in South African Rand (ZAR)
The impact of the Agreement will result in an increase in the
labour cost at Bokoni Mine, with a cost-to-company increase of
6.38% in year one and 7.00% in year two or an average of 6.69%
over the two year period.
Harold Motaung, Chief Executive Officer of Atlatsa, said, "We
are pleased with the constructive and collaborative manner in which
the Bokoni Mine management and Unions progressed and concluded the
wage negotiations. The finalisation of the wage agreement supports
labour stability at the mine and bodes well for our on-going
working relationship with our employees, Unions and broader
stakeholder groups."
Queries:
On behalf of Atlatsa
Joel
Kesler
Chief Commercial Officer
Office: +27 11 779 6800
Email: Joel@atlatsa.com
SOURCE Atlatsa Resources Corporation