Sibanye wins US agreement but SA mine stays closed

Dual-listed Sibanye has secured a two-year wage agreement with the United Steel Workers of America, International Union – the representative union at its newly acquired Stillwater Mining Company platinum group metals operations in Montana, in the US. Mining Weekly reports that under the terms of the agreement, there will be a 2% general wage increase for all job categories effective from 2 June to 1 January, 2018, with a further 1% increase effective from 1 January to 1 June, 2018. A further 2% increase will be implemented for the second year of the agreement, from 2 June, 2018, to 1 June, 2019. Sibanye CEO Neal Froneman said the company was encouraged by the sensible and mature manner in which stakeholders have engaged, to agree on a mutually favourable outcome for the company and employees.