THUNGELA SIGNS THREE-YEAR WAGE AGREEMENT

Thungela signs three-year wage agreement

Thungela announces that it has signed a three-year wage agreement with the National Union of Mineworkers (“NUM”) which is the recognised labour union across Thungela’s operations, and which represents 86% of unionised employees.

This agreement enables the implementation of a new wage agreement across Thungela’s operations, other than Mafube which runs an independent wage negotiation process. The agreement is effective from 1 June 2022 and covers a period of three-years through to the end of May 2025.

The wage agreement increases salary and salary-related allowances and is expected to increase the total labour cost-to-company, on average by approximately 6% per annum over the three-year period.

Under the agreement, Thungela and the NUM also commit to engaging the board of trustees of the SACO Employee Partnership Plan Trust (“EPP”) to review and amend the trust deed to enable the payment of awards made to the EPP in the same financial year in which they are declared, as opposed to vesting over a period of three years.

July Ndlovu, CEO of Thungela, commented: “We are very pleased to have reached an agreement with our employees and I thank the NUM for their collaboration and constructive engagement during the wage negotiation process. The agreement recognises the important role that our employees have in responsibly creating value together for a shared future.”

 

ENDS

 

For further information, please contact:
Tarryn Genis
tarryn.genis@thungela.com
082 324 4650

Editor’s note:
Thungela, which means “to ignite” in isiZulu, is a leading South African thermal coal business, focused exclusively on thermal coal production. It is one of the largest pure-play producers and exporters of thermal coal in South Africa based on aggregate coal reserves and marketable coal production.
 
The Group owns interests in and produces its thermal coal predominantly from seven mining operations, namely Goedehoop, Greenside, Isibonelo, Khwezela, AAIC (operating the Zibulo colliery), Mafube Coal Mining (operating the Mafube colliery) and Butsanani Energy (owning the independently operated Rietvlei colliery) which consist of both underground and opencast 
mines located in the Mpumalanga province of South Africa. 

Thungela’s operations are among the highest quality thermal coal mines in South Africa by calorific value. 
Thungela also holds a 50% interest in Phola, which owns and operates the Phola Coal Processing Plant, and a 23% indirect interest in Richards Bay Coal Terminal (RBCT). RBCT is one of the world’s leading coal export terminals, with an advanced 24-hour operation and a design capacity of 91 Mtpa. 

Thungela is committed to operating in a sustainable way to ignite value for a shared future, to the benefit of the communities in which it operates, its employees, shareholders and society as a whole.

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