AMS
ANANP
AMS - Anglo Platinum Limited - Anglo Platinum Concludes Wage Agreement
Anglo Platinum Limited
Registration No.: 1946/022452/06
Instrument Alpha Code/Ticker Symbol: AMS
ISIN: ZAE000013181
ANGLO PLATINUM CONCLUDES WAGE AGREEMENT
Anglo Platinum today formally signed a wage agreement with the National Union of
Mine Workers (NUM) resulting from their year`s wage negotiation process.
The details of the agreement are as follows:
Wage increase : 10% A and B Bands
8,5% C and D Bands
2nd Year : 9% A and B Bands
8% C and D Bands
Minimum wage increase to R3 000 and R3 200 surface and underground respectively.
In addition the parties agreed on a ground breaking home owner allowance to
replace the current living out allowance. In this regard the company will pay
eligible employees 25% of the minimum rate of the Grade with a minimum of R1 500
per month. The home owner allowance is aimed at promoting home ownership amongst
employees and will not be payable unless an employee can prove that the money
will be used for purchasing a home.
Anglo Platinum has made a similar offer to other representative Unions.
For further information, please contact
Simon Tebele
(011) 373-6865 / 083 275 2751
24 August 2007
Sponsor
Merrill Lynch South Africa (Pty) Limited
Date: 24/08/2007 16:50:01 Produced by the JSE SENS Department.
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