Picture: Boxer Ngwenya.

Johannesburg - South African mining firm Royal Bafokeng Platinum said on Thursday it had concluded a five-year wage agreement with the National Union of Mineworkers.

The company said the wage deal would be implemented in two stages - the first phase covering from July 2014 to June 2017 and the second phase from July 2017 to June 2019.

It said the agreement would be reviewed in 2017 to ensure that the pay increases were in line with the prevailing annual inflation rate at the time.

The increases range between 7 percent and 10.5 percent, RBPlat said in a statement. - Reuters