Impala Platinum, a top producer of platinum group metals (JSE: IMP, Implats), declared today that the Association of Mineworkers and Construction Union and its operating subsidiaries, Marula Platinum Limited and Impala Platinum Limited’s Rustenburg operations, have reached a historic five-year wage agreement.
According to the corporation, the agreement will take effect on July 1, 2022, and guarantees staff raises for the next five years for all significant components of compensation, including basic salary, living-out and home-ownership allowances, medical assistance, and pension fund contributions.
This agreement, which was reached through a collaborative process characterized by mutual respect and consideration and without the assistance of external parties, guarantees stability for Implats’ operating businesses for five years. According to Implats’ news statement, the agreement significantly reduces employee uncertainty and enables them to concentrate solely on the achievement of safe and sustainable production.
Leading manufacturer of platinum group metals is Implats. The organization is organized around Impala Refining Services, a toll refining company, and six mining operations. The Bushveld Complex in South Africa, the Great Dyke in Zimbabwe, which are the two most major PGM-bearing ore bodies in the world, and the Canadian Shield, a well-known layered igneous area, are where the company’s operations are situated.