Mining conglomerate, Sibanye-Stillwater, has agreed to sign a three year wage agreement with three mining unions at its Kroondal PGM operation in South Africa.

The agreement, signed between the Amcu (Association of Mineworkers and Construction Union), Num (National Union of Mineworkers) and Solidarity takes effect from 1 July 2017.

In the agreement it states that employees can expect a R1 000 per month increase year on year for the next three years for the lower category employees known as category B employees, and CPI related increases for the next three years for  category A employees.

According to the agreement, medical aid subsidies will also increase by R50 per month year on year for three years for category B and A employees. The subsidies currently stand at R300 per month.

The company said the increase represents an average escalation of about 7% in the wage bill for the Kroondal operations.

Group CEO, Neal Froneman said, “It was a pleasing to note the acceptance of the wage agreement by all the unions. These unions have acted in the interest of their members to protect jobs and at the same time consider the sustainable future of the Kroondal operations.”