Sibanye Reaches Wage Agreement At Kroondal Project

By Carlo Martuscelli Features Dow Jones Newswires

Sibanye Gold Ltd. (SGL.JO) announced on Thursday that it had signed a three-year wage agreement with all three unions at its Kroondal operations in South Africa.

Continue Reading Below

The company said the agreement is effective July 1. Under the terms of the agreement, category B employees are entitled to a 1,000 rand ($70.47) per month increase when compared with a year earlier for the next three years, while category A employees are entitled to increases related to the consumer price index for that same time span.

Sibanye went on to say that medical-aid subsidies will be increased by ZAR50 per month, year-over-year, for three years across both categories.

Write to Carlo Martuscelli at carlo.martuscelli@dowjones.com

(END) Dow Jones Newswires

November 09, 2017 01:13 ET (06:13 GMT)