Labour Court declares the extension of the wage agreement to AMCU, valid and lawful
Johannesburg, 20 March 2019: Sibanye-Stillwater (JSE: SGL and NYSE: SBGL - https://www.commodity-tv.net/c/search_adv/?v=298805 ) is pleased to advise that it has today received judgement from the Labour Court (the Court), which declares that the extension, on 18 February 2019, of the gold wage agreement reached with the National Union of Mineworkers (NUM), UASA and Solidarity, to AMCU and other non-unionised employees, is valid and lawful in terms of Section 23(1)(d) of the Labour Relations Act, No 66 of 1995 (S23(1)(d)). The agreement is applicable to non-parties of the agreement.
As a result of the legally binding nature of the extension agreement, the Company will now commence and participate with an independent verification process, to confirm the various unions’ level of representivity required to implement the extension agreement.
Neal Froneman, CEO of Sibanye-Stillwater comments: “We are extremely pleased with the ruling provided by the Labour Court. This judgment provides clarity to all parties on the legal standing of the application of the extension of the wage agreement to AMCU in terms of Section 23(1)(d). Furthermore, it provides a clear path forward to resolving the ongoing strike in a manner which does not compromise our values or undermine our other stakeholders, who have also been negatively impacted by the AMCU strike action. We urge AMCU to respect the ruling and allow due processes to be followed in the interest of all parties and a peaceful resolution to this strike.”
Sibanye-Stillwater Investor relations contact:
Head of Investor Relations
Email: [email protected]
+27 (0) 83 453 4014
Sponsor: J.P. Morgan Equities South Africa (Proprietary) Limited
FORWARD LOOKING STATEMENTS
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