Platinum agreements signed: Producers
Updated | By Lonwabo Miso
Agreements signed between Amcu and platinum producers on Tuesday brought the five-month strike in the platinum sector to an end, the producers said.

"The three-year agreement will bring an end to the five-month strike in which employers have forfeited revenue of approximately R24 billion and employees have lost earnings of some R10.6 billion," spokeswoman Charmane Russell said in a statement.
"Employees are expected to return to work on Wednesday, June 25, 2014, with the full resumption of operations in the coming weeks."
Association of Mineworkers and Construction Union members at Lonmin, Impala Platinum, and Anglo American Platinum downed tools on January 23, demanding a monthly basic salary of R12,500.
Amplats CEO Chris Griffith, Implats CEO Terence Goodlace, and Lonmin CEO Ben Magara said in a joint statement the agreement came at a time when the platinum market remained subdued, with operational profitability constrained.
"The road ahead remains a challenging one and it will take some time for our operations to resume full production, with the safety and wellness of employees being paramount."
The companies reached separate agreements with Amcu, which marginally differed according to the companies' particular circumstances.
There were common principles underlying the agreements, however.
Workers whose basic wages were less than R12,500 a month would receive an annual wage increase of R1000 for the first two years of the agreements.
"At Lonmin the same increase will apply in the third year, whereas in the other two companies the increase in the third year will be R950 a month," Russell said.
Those already earning R12,500 a month -- and those whose basic rate would reach this during the agreement term -- would receive an eight percent increase for the first year and 7.5 percent thereafter at Amplats and Implats.
This category of workers at Lonmin would receive an eight percent increase for the first year and 7.5 percent for the remaining two years.
Living-out allowances would remain the same at Impala. At Lonmin it would increase in the first year and remain the same for the next two years, while at Amplats the living-out allowance would increase by six percent in the first year, and remain constant for the remaining two years.
"Fringe benefits and allowances normally based on basic pay will generally, during the course of these agreements, increase by amounts linked to the inflation rate," Russell said.
The agreements were effective from July 1 last year for Amplats and Implats, and from October 1, 2013 for Lonmin. The agreements would run until June 30, 2016.
All employees would receive back pay from the effective agreement dates until January 22, the day before the strike started. This would be made available within a week of returning to work.
The CEOs said: "We acknowledge the work that needs to be done to improve the lives of our employees and members of our communities."
The companies would work towards this together with labour and community representatives and government.
"It cannot happen overnight," they said.
In the short- to medium-term, the companies would focus on undertaking operational and safety training and restoring processing plants that may have deteriorated during the strike.
The companies would also concentrate on improving the health and wellness of workers, rebuilding trust between workers and management, as well as helping workers to stabilise their financial well-being, in particular debt accrued during the strike.
"It is our sincere hope that our companies, our industry, our employees, and all other stakeholders will never again have to endure the pain and suffering of this unprecedented strike period," the CEOs said.
"None of us, nor the country as a whole, can afford a repetition."

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