De beers group and national union of mineworkers sign a historic FIVE-YEAR wage deal
This article has been supplied.
De Beers Group today signed a historic 5-year wage agreement with the National Union of Mineworkers (NUM) following months of negotiations facilitated by the Commission for Conciliation, Mediation and Arbitration (CCMA) with employees in the bargaining unit at Venetia Mine and De Beers Sightholder Sales South Africa.
The agreement will see employees receiving an increase of 7% in 2023, and 6% in the subsequent years until 30 April 2028. This takes the minimum basic wage at an entry level excluding allowances for shifts and housing to R17 630 per month. The agreement also allows for participation in the Employee Share Ownership Plans (ESOPs) and will see De Beers employees in South Africa taking part in Anglo American’s current South African ESOP from 2023 to 2025.
De Beers Group Managed Operations Managing Director, Moses Madondo, said: “We are pleased that we reached a favourable outcome following a very tough negotiation process against the backdrop of challenging market conditions that continue to have an adverse impact on our business and the overall diamond industry. The agreement provides a measure of certainty to our employees for the next 5 years as we focus on ramping up the underground mine at Venetia, which is set to extend the life of mine to at least 2046.”
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation