Sibanye Gold secures two year wage agreement

Sibanye Gold Limited reported that it has secured a two year wage agreement with the United Steel Workers of America, International Union, the representative union at its Stillwater Operations in Montana, USA. Negotiations with the United Steel Workers of America, International Union at East Boulder, will take place at year end.

In terms of the agreement there will be a 2% General wage increase for all job categories effective from 2 June 2017 to 1 January 2018, with a further 1% increase effective from 1 January 2018 to 1 June 2018. A 2% annual increase will be in effect for the second year of the agreement, from 2 June 2018 to 1 June 2019.

Neal Froneman, CEO of Sibanye commenting on the agreement said, “We are very pleased to have secured this wage agreement soon after having acquired the Stillwater Operations. We note and are encouraged by the sensible and mature manner in which stakeholders have engaged, to agree on a mutually favourable outcome for the Company and employees. We look forward to similar engagement with all of our stakeholders at the Stillwater Operations and are optimistic about the important role these operations will play in the future of the Sibanye Group.”

Sibanye Gold is a JSE exploration and development company with gold operations and uranium interests in South Africa.