Vanadium producer Bushveld Minerals PLC (LON:BMN) has settled the industrial action that was disrupting production in South Africa.
AMCU members at subsidiary Vametco will receive around R15,000 (£750) each with a second payment to follow after the December year-end.
Bushveld added the unprotected industrial action by the AMCU has been called off and workers have started returning to work.
Talks for new structure underway
The dispute related to a share option scheme for employees (ESOPS) and talks are underway for a new structure to be to be implemented from January 2019
Fortune Mojapelo, Bushveld’s chief executive, said he was delighted with the outcome.
“This is a positive outcome for all parties,” he said.
“The settlement agreement includes provisions designed to discourage any future participation in unprotected industrial actions by the workers at the risk of losing the participation of any ESOP payments.
“We can now look forward to ending the year with a solid performance."