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Pan African Resources PLC - Rosebank-headquartered gold producer - Signs a ‘milestone’ five-year wage agreement with the National Union of Mineworkers at its Barberton Mines operations in Mpumalanga. The wage settlement amounts to an average yearly hike of about 5.3% per annum over five years. Increases take effect from June 1, 2024 to June 30, 2029. Says the current five-year wage agreement with UASA, entered into in 2021, is valid until June 30, 2026. ‘We are pleased to have entered into multi-year wage agreements at Barberton Mines, which will ensure stability in labour relations at this operation over the coming years,’ Pan African Chief Executive Officer Cobus Loots says. Current stock price in Johannesburg: R 5.80, up 1.1% on Tuesday midday 12-month change: up 76% Current stock price in London: 24.40 pence, down 1.4% 12-month change: up 80% Copyright 2024 Alliance News Ltd. All Rights Reserved.
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