Media releases

Gold wage negotiations continue: Unions reject firm offer

Johannesburg, 15 August 2018. Gold wage negotiations between producers, AngloGold Ashanti, Harmony, Sibanye-Stillwater and Village Main Reef, and representative unions, the Association of Mineworkers and Construction Union (AMCU), the National Union of Mineworkers (NUM), Solidarity and UASA, continued today.

Today, all four unions responded to the offers made by the companies on Thursday, 2 August 2018. All four unions have rejected these offers which ranged from 6% - 7.2% for Category 4 underground employees, and 3.5% and 4.5% for miners and artisans, and officials. The industry believes that these were responsible and sound offers.

Chief Negotiator on behalf of the gold producers, Motsamai Motlhamme noted that: “It is true that our industry is faced with a number of challenges including a stagnant gold price, rising costs and falling profitability. These challenges have had a significant impact not only on sustainability of the gold sector, but on the mining industry as a whole. Our industry’s future, and its ability to continue to provide employment and benefits to employees, depends on the ability of all its stakeholders to act responsibly to ensure that it remains viable.”

Discussions will continue next week.

Gold traded at a spot price of around R557,921/kg and $1181/oz towards the end of the day.

Queries

Charmane Russell, +27 (0)11 880 3924 or +27 (0)82 372 5816, This email address is being protected from spambots. You need JavaScript enabled to view it.

Memory Johnstone, +27 (0)11 880 3924 or +27 (0)82 719 3081, This email address is being protected from spambots. You need JavaScript enabled to view it.

Website: www.goldwagenegotiations.co.za

AngloGold Ashanti [logo]
Sibanye-Stillwater [logo]
Harmony [logo]
Village Main reef [logo]
For more information, contact:

Motsamai Motlhamme
Minerals Council South Africa
+27 (0)11 498 7400 or
+27 (0)82 202 6734

Charmane Russell
+27 (0)11 880 3924 or
+27 (0)82 372 5816
charmane@rasc.co.za

Memory Johnstone
+27 (0)11 880 3924 or
+27 (0)82 719 3081
memory@rasc.co.za