Sibanye Reaches Wage Agreement At Kroondal Project

By Carlo MartuscelliFeaturesDow 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.

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.

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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)