Petra announced that it has concluded a five-year wage agreement with the National Union of Mineworkers (NUM) covering its South African operations for the period 1 July 2024 to 30 June 2029. Employees in the A and B Paterson bands will receive an increase to their salaries as set out below: Salary Adjustment: Year One (fiscal year 2025): 6.25% /Consumer Price Index, Year Two (fiscal year 2026): 5.75% /Consumer Price Index, Year Three (fiscal year 2027): 5.75% /Consumer Price Index, Year Four (fiscal year 2028): 6.50% /Consumer Price Index, Year Five (fiscal year 2029): 6.50% /Consumer Price Index. This agreement constitutes a full and final settlement of the Fiscal Year 2024 substantive negotiations.
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10/06 | Petra Diamonds concludes wage agreement in South Africa | AN |
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- Petra Diamonds Limited Announces Conclusion of Wage Agreement with the National Union of Mineworkers in South Africa