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Wage settlement concluded at Northam’s Zondereinde mine
NORTHAM PLATINUM LIMITED
Incorporated in the Republic of South Africa
(Registration number 1977/003282/06)
JSE share code: NHM ISIN code: ZAE000030912
Debt issuer code: NHMI
Bond code: NHM002 Bond ISIN: ZAG000129024
Bond code: NHM003 Bond ISIN: ZAG000129032
Bond code: NHM004 Bond ISIN: ZAG000150764
Bond code: NHM005 Bond ISIN: ZAG000151242
(“Northam”)
Wage settlement concluded at Northam’s Zondereinde mine
Northam is pleased to advise that wage negotiations at its Zondereinde mine with
the representative union, the National Union of Mineworkers, have been concluded.
The three-year agreement (“Agreement”) provides for increases in basic wages for
entry level underground employees of R1 000.00 in the first year, R1 100.00 in the
second year, and R1 200.00 in the third year, and a R200.00 annual increase in
housing/living out allowances over the three year period.
In terms of the Agreement, supervisory employees will receive a basic increase of
7% per year for each of the three years and a 6% annual increase for housing/living
out allowances over the same period.
Paul Dunne, Northam Chief Executive Officer, said: “We recognise the mature and
constructive manner in which the engagement has been undertaken. The agreement
provides for continuity, certainty and allows all stakeholders to focus on the
sustainability of the business going forward.”
Johannesburg
2 October 2018
Sponsor and Debt Sponsor
One Capital
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