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Aquarius Platinum hikes wages

Johannesburg - Aquarius Platinum has reached separate three-year wage deals with members of two South African unions at its Kroondal operation, it said on Monday.

The agreement with the National Union of Mineworkers (NUM) and Solidarity awards increases exceeding the rate of inflation, Aquarius said in a filing with the Johannesburg stock exchange.

Picture: Boxer Ngwenya. Credit: Independent Newspapers

NUM said Aquarius increased pay by 10 percent and 12 percent for different categories of workers in the first year, and by 10 percent and 11 percent in the second and third years respectively.

The deals were backdated to the start of July and run to the end of June 2017.

Johannesburg-listed Aquarius shares ended Monday's trade nearly 5 percent higher. - Reuters

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