Bushveld inks five-year wage deal with South African union
Bushveld Minerals Limited
0.31p
09:29 18/11/24
Bushveld Minerals announced on Friday that it has signed a five-year wage agreement with the Association of Mineworkers and Construction Union (AMCU) in South Africa.
FTSE AIM All-Share
732.25
15:10 25/11/24
Mining
10,810.65
15:10 25/11/24
The AIM-traded firm said the agreement provided for a seven percent increase in 2023, then approximately 6.5% for subsequent years.
“Stable labour relations are key to our success so we are pleased to confirm that Bushveld Minerals has agreed with the AMCU leadership a five-year wage deal on behalf of Bushveld Vametco employees,” said chief executive officer Fortune Mojapelo.
“This long-term agreement is a first for our company, and an important step to maintain operational stability and long-term labour amity that will allow the company to focus on executing our strategic initiatives and meeting our objectives.”
At 1219 BST, shares in Bushveld Minerals were up 1.69% at 9.05p.
Reporting by Josh White at Sharecast.com.