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Name | Symbol | Market | Type |
---|---|---|---|
Anglo American Platinum Ltd (PK) | USOTC:ANGPY | OTCMarkets | Depository Receipt |
Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-0.315 | -4.50% | 6.68 | 6.61 | 6.85 | 6.73 | 6.52 | 6.66 | 170,735 | 21:01:19 |
By Tapan Panchal
LONDON--Anglo American Platinum Ltd. (AMS.JO) said Friday that it has signed a three-year wage agreement with the Association of Mineworkers and Construction Union, retrospectively effective from July 1.
The agreement includes annual pay increases for workers ranging from 12.5% to 7%, living out allowances, medical aid contributions and holiday leave allowances.
The South African platinum producer anticipates the agreement to increase its labour costs by 6.74% on average over the three-year period. It has extended the wage agreement to the National Union of Mineworkers, the United Association of South Africa and non-union affiliated employees in line with labour regulations.
Write to Tapan Panchal at tapan.panchal@wsj.com
(END) Dow Jones Newswires
October 28, 2016 02:52 ET (06:52 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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