Impala Platinum reaches ‘historic’ five-year wage settlement agreement
(Kitco News) - Impala Platinum (JSE: IMP, Implats), a leading producer of platinum group metals, announced today that its operating subsidiaries - Impala Platinum Limited’s Rustenburg operations and Marula Platinum Limited - have signed a historic five-year wage settlement with the Association of Mineworkers and Construction Union.
The company said that the settlement is effective from 1 July 2022, and assures employees of increases to all major components of remuneration over the next five years including basic salaries, living-out and home-ownership allowances, medical aid and pension fund contributions.
“This agreement secures five years of stability at Implats’ operating entities 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,” Implats stated in its press-release.
Implats is a leading producer of platinum group metals. The group is structured around six mining operations and Impala Refining Services, a toll refining business. The company's operations are located on the Bushveld Complex in South Africa, the Great Dyke in Zimbabwe – the two most significant PGM-bearing ore bodies in the world – and the Canadian Shield, a prominent layered igneous domain.