Marikana Agreement Signed
Following an all-inclusive negotiation process involving trade unions and delegates of striking employees, Lonmin is pleased to announce that it has reached a settlement and a return to work has been agreed for Thursday (20th September).
The agreement was signed in Rustenburg at 22.30 this evening (September 18th). The agreement includes a signing bonus of R2,000 and an average rise in wages of between 11 and 22% for all employees falling within the Category 3-8 bargaining units, effective from 1 October 2012. This includes the previously agreed 9-10% rises for these employees due to come into effect in October 2012. It also addresses issues of promotion for some categories of workers as well as other allowances.
The Company will update the Market on the wider implications of the agreement, including its financial impact in due course.
Lonmin wishes to thank all those who have played their part in helping deliver this agreement: all the unions involved, the delegate of striking employees, the Commission for Conciliation Mediation and Arbitration, the Government of The Republic of South Africa, and both traditional and religious leaders.
Acting Chief Executive Simon Scott said: "These have been difficult and tragic weeks for everyone involved with the Company, the communities living around our operations and the South African nation as a whole. Tonight's agreement and the subsequent return to work is only one step in a long and difficult process which lies ahead for everyone who has been affected by the events at Marikana, but it is essential in helping secure the futures of our tens of thousands of employees and all those who rely on Lonmin in the region."
Statement issued by Lonmin, September 18 2012
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