Company announcements Home » Investors » News » Company announcements » Harmony and unions reach three year wage agreement 2018 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 Harmony and unions reach three year wage agreementOctober 03, 2018Johannesburg. Wednesday, 3 October 2018. Harmony Gold Mining Company Limited (“Harmony” and/or “the company”) wishes to announce that it has reached a three year wage agreement with the National Union of Mineworkers, UASA and Solidarity, effective from 1 July 2018. “We are pleased with the outcome of the wage negotiations. Stable labour relations and certainty are key factors to the sustainability of our business. Thank you to the Unions, employees the Minerals Council South Africa and the Commission for Conciliation Mediation and Arbitration (CCMA) for the constructive manner and spirit in which the negotiations were dealt with.” said Peter Steenkamp, chief executive officer of Harmony. The increase on the standard rate of pay for the three year wage agreement are summarised below: Year 1 Year 2 Year 3 Categories 4-8 employees R700 R750 R825 Miners, artisans and officials 6.3% Higher of 6.3% or CPI Higher of 6.3% or CPI Living out allowance (effective 1 September 2018) R100 R100 R100 The living out allowance will increase annually by R100 from 1 September 2018 for the duration of this agreement. The minimum medical incapacity benefit of R55 000 will increase incrementally to R60 000 over the three year period. The agreements were signed by the National Union of Mineworkers, UASA and Solidarity, which represents 58%, 6% and 3% respectively of Harmony’s workforce in South Africa. The agreement has been extended to all employees. Harmony remains hopeful that the Association of Mineworkers and Construction Union (AMCU) will sign the agreement after they have finalised their mandating process. For more details contact: Lauren Fourie Investor Relations Manager +27(0) 71 607 1498 (mobile) JSE Sponsor: J.P. Morgan Equities South Africa Propriety Limited Harmony Gold Mining Company Limited (Harmony), a world-class gold mining and exploration company, has operations and assets in South Africa and Papua New Guinea (PNG). Harmony has more than 60 years’ experience in the industry. Company assets include one open pit mine and several exploration tenements in PNG, as well as 10 underground mines and 1 open pit operation and several surface sources in South Africa. In addition, Harmony owns 50% of the significant Wafi-Golpu copper-gold project – a tier 1 asset – in a joint venture in PNG. The company’s primary stock exchange listing is on the JSE with a secondary listing on the New York Stock Exchange. The bulk of our shareholders are in South Africa and the United States. Additional information on the company is available on the corporate website, www.harmony.co.za.
