Announcements 2019

Northam’s Booysendal operations reach a five-year wage settlement

Northam is pleased to advise that wage negotiations at its Booysendal Platinum Proprietary Limited (“Booysendal”) operations with the representative union, the Association of Mineworkers and Construction Union (“AMCU”), have been concluded.

The settlement is effective from 1 July 2019 and assures employees of increases to all major components of remuneration over the next five years. The agreement is in line with industry settlements and takes into consideration the reality of inflationary pressures faced by our employees.

The agreement secures five years of stability in line with delivering the 500 000 oz 4E growth target and has been achieved through a collaborative process typified by mutual respect and consideration and without requiring intervention or mediation by third parties.  The agreement removes substantial uncertainty for our employees and allows a singular focus on the pursuit of safe and sustainable production.

Paul Dunne, Northam’s chief executive 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
13 December 2019

Sponsor and Debt Sponsor
One Capital