Platinum wage negotiations reach agreement
South Africa supplies 71.7% of the world’s mined platinum production, and 54% of total global platinum supply. In 2018, the country’s platinum sector employed 167,041 people, or 37% of all mining employees.
From 1 July 2019, South Africa’s three largest platinum producers engaged in wage negotiations with the sector’s largest union, the Association of Mineworkers and Construction Union (AMCU). The negotiations took place on a company-by-company basis, and were respectful and amicable. They were conducted without any industrial action or disruptions to production prior to the agreements being signed on Friday, 15 November 2019.
In terms of the three-year agreements, employees are to receive increases across all major components of their remuneration, including basic salaries, living-out and home-ownership allowances, medical aid and pension fund contributions. Details of these agreements can be found in the statements released by Impala Platinum and Sibanye-Stillwater. Anglo American Platinum also signed an agreement with AMCU on the same day.
This website features a factsheet about the state of the platinum industry in South Africa, FAQs to answer common questions, and relevant articles and media releases regarding the wage negotiation process.