NUM Seeks 15% Wage Hike from Gold Miners in South Africa
Reuters reported that South Africa’s National Union of Mineworkers plans to seek a hike of at least 15% in a three-year wage deal at upcoming negotiations with gold miners and state utility Eskom. NUM said it would consolidate the wage demands from all sectors it operates in, and would seek increases of between 15% to 20%, or 15,000 rand (USD 1,016) minimum, alongside other demands including medical aid contributions and COVID-19 health and safety leave. NUM said “Given the good dividend performances by mining companies NUM enters this season of negotiations in high spirit for a good settlement.”
Higher gold prices, which reached a record in August last year, boosted 2020 earnings and offered mining companies a lifeline following production disruptions because of the COVID-19 pandemic.