Company announcements Home » Investors » News » Company announcements » Harmony concludes three-year wage agreement 2021 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 Harmony concludes three-year wage agreementSeptember 16, 2021Agreement balances the best interest of employees and the long-term sustainability of Harmony Johannesburg, Thursday, 16 September 2021. Harmony Gold Mining Company Limited (“Harmony” and/or “the Company”) has concluded a three-year wage agreement (”wage agreement”) in respect of wages and conditions of service for the period 1 July 2021 to 30 June 2024. The wage agreement was agreed with the following labour unions: The Association of Mineworkers and Construction Union (AMCU), the Coalition (comprising The National Union of Mineworkers (NUM), United Association of South Africa (UASA) and Solidarity) and The National Union of Metalworkers of South Africa (NUMSA). Harmony CEO, Peter Steenkamp said: “This wage agreement reflects the strong partnership between Harmony and organised labour, demonstrating our commitment towards our long-term sustainability and our people. We would like to thank everyone involved for engaging constructively and keeping everyone’s best interests at heart.” The agreement allows for the following wage increases: Category 4 to 8 employees will receive a wage increase of R1,000 for each year of the wage agreement. This translates to an average increase of 8.4% for employees across these categories. Miners, Artisans and Officials will receive a wage increase of 6% of their basic wage for each year of the agreement. The total average wage increase negotiated is 7.8% in year 1, 7.4% in year 2 and 7.0% in year 3. 98% of Harmony employees are part of the bargaining unit covered by this wage agreement. In addition to the basic wage increases mentioned above, the parties have agreed to the following benefits: As part of Harmony’s drive to promote home ownership, a housing allowance will be introduced for the benefit of employees who choose to purchase a residence or who have already entered into bond agreements. The housing allowance will be R2,750 in year 1 and increase incrementally each year up to a maximum value of R3,240 in year 3. Employees not eligible for the housing allowance will receive a living-out allowance of R2,500 in year 1, which will increase by R100 in year 2 and in year 3 respectively. All employees will be eligible for either a housing allowance or a living-out allowance, but not both. A number of non-wage related and process issues have been agreed to, including: maternity and paternal leave; medical incapacity and medical aid benefits. This is the first wage agreement reached outside the auspices of the Mineral Council’s central bargaining forum and will be marked by way of an in-person signing ceremony to allow all parties to participate in and witness the signing of the agreement. This ceremony will take place at the Birchwood Conference Centre in Boksburg. All the necessary Covid-19 health and safety protocols will be followed. 16 September 2021 For more details contact: Sihle Maake Head of Communications +27 (0) 83 722 5467 Jared Coetzer Head: Investor Relations +27 (0) 82 746 4120 Mashego Mashego Executive Director: Corporate Affairs +27 (0) 82 767 1072 Memory Johnstone +27 (0) 82 719 3081 memory@rasc.co.za JSE Sponsor: JP 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 70 years’ experience in the industry. Company assets include one open pit mine and several exploration tenements in PNG, as well as 9 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.
