Bushveld Minerals said subsidiary Vametco has signed a five-year wage agreement with the Association of Mineworkers and Construction Union.
The agreement provides for a seven per cent increase in 2023, then approximately 6.5 per cent for the subsequent years.
Fortune Mojapelo, Bushveld’s CEO, said: "Stable labour relations are key to our success so we are pleased to confirm that Bushveld Minerals has agreed with the AMCU leadership a five-year wage deal on behalf of Bushveld Vametco employees.
"This long-term agreement is a first for our company and an important step to maintain operational stability and long-term labour stability.”