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IMPUY Impala Platinum Holdings Ltd (QX)

4.84
-0.12 (-2.42%)
Last Updated: 16:56:22
Delayed by 15 minutes
Name Symbol Market Type
Impala Platinum Holdings Ltd (QX) USOTC:IMPUY OTCMarkets Depository Receipt
  Price Change % Change Price Bid Price Offer Price High Price Low Price Open Price Traded Last Trade
  -0.12 -2.42% 4.84 4.87 4.93 4.96 4.83 4.96 38,503 16:56:22

South African Platinum Miners Confirm 3-Year Wage Deal with AMCU

24/06/2014 3:13pm

Dow Jones News


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LONDON--South African platinum miners confirmed Tuesday they have signed a three-year wage agreement with the Association of Mineworkers and Construction Union, bringing an end to a five-month industry-wide strike.

Anglo American Platinum PLC (AMS.JO), Lonmin PLC (LMI.LN) and Impala Platinum Holdings Ltd. (IMP.JO) reached an agreement with the AMCU over wages and conditions of service, and employees are expected to return to work Wednesday.

The wage agreement falls short of the union demand to nearly triple all workers' entry-level salaries, but it will increase annual pay by around 1,000 rand ($94) a month for a three-year period, the AMCU said Monday.

The agreement starts retroactively from Oct. 1, 2013 and ends June 30, 2016.

Write to Razak Musah Baba at razak.baba@wsj.com; Twitter: @Raztweet

Subscribe to WSJ: http://online.wsj.com?mod=djnwires


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