Petra resolves workers’ wage problem amicably and continues work

Petra Diamonds has resolved workers' payment issues to forge ahead with work
Petra resolves workers’ wage problem amicably and continues work

South African workers had threatened to strike work as a result of a failure to reach a pay agreement.

Petra Diamonds has resolved these issues with the workers and reached an amicable solution. The company has signed a one-year deal with employees who are members of the National Union of Mineworkers (NUM), Petra said on Oct 6. The company will make a one-time bonus payment of ZAR 5,000 ($302) and an increase of 5.5% for the year to workers in its “A Paterson band,” while employees in the “B Paterson band” will receive a payout of ZAR 8,500 ($512) and a 5% raise.

The two parties have yet to settle on a wage agreement for the “C band,” NUM noted. Petra has also agreed to discuss and finalize other outstanding issues with NUM apart from wages. According to Petra CEO Richard Duffy -- This

  • settlement
  • now allows them to renew their focus on continuing to deliver operationally as they position the business in emerging from what has been a particularly challenging period. NUM has still not reached an agreement with De Beers over wages for its South African employees at the Venetia mine.

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