KUMBA AND TRADE UNIONS REACH WAGE INCREASE SETTLEM
KUMBA RESOURCES LIMITED("Kumba")
JSE SHARE CODE: KMB
ISIN: ZAE000034310
28 July 2003
Kumba Resources Limited ("Kumba") today announced that it has reached agreement
with Solidarity, the National Union of Mineworkers, and the Building Allied
Mining and Construction Workers Union regarding the annual review of wages and
other conditions of employment applicable to employees within the bargaining
units employed at Kumba"s subsidiaries. The only subsidiary that has not yet
been fully completed is Zincor, which is still in the process of negotiations.
The agreement is effective from 1 July 2003 until 30 June 2004.
Employees in the two lowest levels will receive a 10% across-the-board increase,
with the next two levels receiving a 9,5% increase in basic wages and an 8,5%
increase in allowances. Employees in remaining levels will receive an 8,5%
across-the-board increase.
Improvements to maternity leave and family responsibility leave were also made.
ends
Note
Kumba Resources Limited, one of the largest South African-based mining companies
listed on the JSE Securities Exchange, is a focused metals and mining company
with a diverse commodity portfolio consisting of iron ore, heavy minerals, coal,
base metals and industrial minerals. www.kumbaresources.com
For media relations enquiries, please contact:
Pat Mdoda
General Manager: Corporate Affairs
Tel: (012) 307 4332
Mobile: 083 609 1204
Neels Howatt
General Manager: Human Resources
Tel: (012) 307 4665
Mobile: 083 609 1346
For investor relations enquiries, please contact:
Trevor Arran
General Manager: Investor Relations
Tel: (012) 307 3292
Mobile: 083 609 1444
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