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IR Update: 30 October 2016

REMUNERATION AND COLLECTIVE BARGAINING Amcu and Amplats signed agreement  Anglo American Platinum (Amplats) signed a three-year wage agreement with the Association of Mineworkers and Construction Union (Amcu).  The agreement, retrospectively effective from 1 July 2016 makes provision for an annual increase of R1,000 or 7% (whichever is greater) per month in basic pay for bargaining [...]

IR Update: 23 October 2016

REMUNERATION AND COLLECTIVE BARGAINING Platinum producers (Amplats, Implats, Lonmin)  The Association of Mineworkers and Construction Union indicated to Reuters that it has reached tentative wage deals with Anglo American Platinum, Impala Platinum, and Lonmin, following almost two months of negotiations. Amcu indicated that the agreements reached in principle will be discussed with all of AMCU’s [...]

IR Update: 16 October 2016

REMUNERATION AND COLLECTIVE BARGAINING Salary gap between Johannesburg and Cape Town Data published by online job portal Adzuna shows that the salary gap between the two cities has widened during 2016 to about 18%.  In broad terms, the Western Cape lists 22,230 jobs at an average salary of 13% less than Gauteng’s 53,815 jobs.  The [...]

IR Update: 9 October 2016

REMUNERATION AND COLLECTIVE BARGAINING Platinum wage negotiations Both Joseph Mathunjwa, President of the Association of Mineworkers and Construction Union (Amcu), as well as leaders in the Platinum Industry are positive that the wage talks between unions and the major producers could be concluded in October 2016 thereby preventing a repeat of the strike action [...]

IR Update: 2 October 2016

REMUNERATION AND COLLECTIVE BARGAINING Shrinking of net-pay Disposable salaries in August 2016 are about 2,5% lower than in August 2015 according to the  BankservAfrica disposable salary index This is the third consecutive month of declines in real disposable salaries.  Above-inflation increases in medical insurance costs and real personal income tax contributed to the growing gap [...]