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By Anthony O. Goriainoff
Harmony Gold Mining Co. said on Thursday that it had reached a three-year wage agreement with South African labor unions.
The South African miner said the agreement covers wages and conditions of service for the period July 1, 2021 to June 30, 2024, and was agreed with the Association of Mineworkers and Construction Union, the Coalition–comprised of the National Union of Mineworkers, United Association of South Africa and Solidarity–and the National Union of Metalworkers of South Africa.
The company said 98% of its employees were part of the bargaining unit covered by the agreement. Aside from wage increases, the company will also introduce a housing allowance to eligible employees, among other benefits, Harmony said.
“This wage agreement reflects the strong partnership between Harmony and organized labor, demonstrating our commitment toward our long-term sustainability and our people,” Chief Executive Peter Steenkamp said.
Write to Anthony O. Goriainoff at anthony.orunagoriainoff@dowjones.com
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