SOUTH Africa’s National Union of Mineworkers (NUM) said on Wednesday it planned to seek a 15% annual wage hike in gold sector over the three year period.
Higher bullion prices, which reached a record in August last year, boosted 2020 earnings and offered gold miners a lifeline following production disruptions because of the COVID-19 pandemic.
NUM, the main union in the gold sector, said it would seek a hike of between 15% to 20% or 15,000 rand ($1,016) minimum, alongside other demands including medical aid contributions and COVID-19 health and safety leave.
“Given the good dividend performances by mining companies NUM enters this season of negotiations in high spirit for a good settlement,” NUM said.
Gold producers have in the past argued that above-inflation wage hikes cannot be sustained unless prices and add to the cost burden in an industry the has the world’s deepest mines.
However unions say wages
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