Sibanye-Stillwater confirms signing of wage agreement with unions

JSE-listed Sibanye-Stillwater has confirmed that it has concluded wage negotiations at its South African gold operations, which began in July.

A one-year agreement was reached with the representative unions, the Association of Mineworkers and Construction Union, the National Union of Mineworkers, UASA and Solidarity, with respect to yearly wages and benefits for employees at the Beatrix, Driefontein and Kloof operations.

The company says this agreement, effective from July 1 to June 30, 2025, demonstrates the group’s commitment to providing fair, inflation-linked wages while considering the sustainability and prospects of the South African gold operations.

The final wage agreement comprises increases of 5.5% or R900 a month – whichever is higher – for both category four to eight employees and miners and artisans for the year ending June 30, 2025, with officials receiving a 5.5% increase.

“We are pleased to have finalised this wage agreement, which is both fair for employees and affordable for the South African gold operations. Our one-year wage offer is in contrast with recent five-year agreements between South African platinum group metal and gold companies and organised labour.

“Since early 2023, the South African gold operations have undergone significant restructuring in a very volatile inflationary environment and the operations have not yet fully stabilised. We therefore believe it is more prudent and fair to re-engage again in July 2025,’ says Sibanye-Stillwater CEO Neal Froneman.