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HARMONY GOLD MINING COMPANY LIMITED - Harmony and unions reach three year wage agreement

Release Date: 03/10/2018 14:22:00      Code(s): HAR       PDF(s):  
Harmony and unions reach three year wage agreement

Harmony Gold Mining Company Limited
Registration number 1950/038232/06
Incorporated in the Republic of South Africa
ISIN: ZAE000015228
JSE share code: HAR
(“Harmony” or “the company”)


Harmony and unions reach three year wage agreement

Johannesburg. Wednesday, 3 October 2018. Harmony Gold Mining
Company Limited (“Harmony” and/or “the company”) wishes to
announce that it has reached a three year wage agreement with the
National Union of Mineworkers, UASA and Solidarity, effective from
1 July 2018.

“We are pleased with the outcome of the wage negotiations. Stable
labour relations and certainty are key factors to the
sustainability of our business. Thank you to the Unions, employees
the Minerals Council South Africa and the Commission for
Conciliation Mediation and Arbitration (CCMA) for the constructive
manner and spirit in which the negotiations were dealt with.” said
Peter Steenkamp, chief executive officer of Harmony.

The increase on the standard rate of pay for the three year wage
agreement are summarised below:

                      Year 1             Year 2             Year 3
Categories 4-8                 R700               R750               R825
employees
Miners,                        6.3%   Higher of 6.3%     Higher of 6.3%
artisans and                                  or CPI             or CPI
officials
Living out                     R100               R100               R100
allowance
(effective 1
September 2018)

The living out allowance will increase annually by R100 from 1
September 2018 for the duration of this agreement.

The minimum medical incapacity benefit of R55 000 will increase
incrementally to R60 000 over the three year period.

The agreements were signed by the National Union of Mineworkers,
UASA and Solidarity, which represents 58%, 6% and 3% respectively
of Harmony’s workforce in South Africa.

The agreement has been extended to all employees. Harmony remains
hopeful that the Association of Mineworkers and Construction Union
(AMCU) will sign the agreement after they have finalised their
mandating process.
Ends.


For more details contact:

Lauren Fourie
Investor Relations Manager
+27 (0)71 607 1498 (mobile)

3 October 2018

Sponsor:
J.P. Morgan Equities South Africa Proprietary Limited.

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