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ANGLO AMERICAN PLATINUM LIMITED - Anglo American Platinum and unions sign three-year wage agreement

Release Date: 15/11/2019 11:48
Code(s): AMS     PDF:  
 
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Anglo American Platinum and unions sign three-year wage agreement

ANGLO AMERICAN PLATINUM LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1946/022452/06)
Share Code: AMS
ISIN: ZAE000013181
(“The Company" or "Anglo American Platinum")

Anglo American Platinum and unions sign three-year wage agreement

Anglo American Platinum Limited (“Anglo American Platinum” or the “Company”) announces that it has
signed a three-year wage agreement with the recognised unions at its operations, namely the
Association of Mineworkers and Construction Union (“AMCU”), the National Union of Mineworkers
(“NUM”) and UASA – The Union (“UASA”).

Chris Griffith, CEO of Anglo American Platinum, said: “We are very pleased to have reached an
agreement, and we welcome the collaborative and constructive engagements with the unions
throughout the process. We believe this agreement will ensure the business can remain sustainable
through the typical PGM price cycles, while our employees will benefit from meaningful pay and other
increases.”

The agreement includes:

    •   An annual increase of R1,000 per month in basic pay in years 1, 2 and 3 for bargaining unit
        employees, or 5.5%, whichever is greater for each year of the agreement;
    •   The base on which salary-related allowances and pension contributions are calculated will
        increase over the three-year period to bring it back in line with basic wages; and
    •   An ex-gratia payment of R1,000 in July 2020 and R1,500 in July 2021.

The agreement will increase the total labour cost-to-company by 7.4% in year 1, 6.1% in year 2 and
6.3% in year 3, or 6.6% on average over the three years.


Johannesburg, South Africa
15 November 2019

Sponsor
Merrill Lynch South Africa Proprietary Limited

For further information, please contact:


Investors:                                       Media:
Emma Chapman                                     Jana Marais
(SA) +27 (0) 11 373 6239                         (SA) +27 (0)79 932 1586
emma.chapman@angloamerican.com                   jana.marais@angloamerican.com
Notes to editors:

Anglo American Platinum Limited is a member of the Anglo American plc Group and is a leading primary
producer of platinum group metals. The company is listed on the Johannesburg Securities Exchange
(JSE). Its mining, smelting and refining operations are based in South Africa. Elsewhere in the world,
the Group owns Unki Platinum Mine in Zimbabwe. Anglo American Platinum has a number of joint
ventures with several historically disadvantaged South African consortia as part of its commitment to
the transformation of the mining industry. Anglo American Platinum is committed to the highest
standards of safety and continues to make a meaningful and sustainable difference in the development
of the communities around its operations.

www.angloamericanplatinum.com

Anglo American is a leading global mining company and our products are the essential ingredients in
almost every aspect of modern life. Our portfolio of world-class competitive mining operations and
undeveloped resources provides the metals and minerals that enable a cleaner, more electrified world
and that meet the fast growing consumer-driven demands of the world’s developed and maturing
economies. With our people at the heart of our business, we use innovative practices and the latest
technologies to discover new resources and mine, process, move and market our products to our
customers around the world – safely, responsibly and sustainably.

As a responsible miner – of diamonds (through De Beers), copper, platinum group metals, iron ore,
coal, nickel and manganese – we are the custodians of what are precious natural resources. We work
together with our business partners and diverse stakeholders to unlock the sustainable value that those
resources represent for our shareholders, the communities and countries in which we operate, and for
society as a whole. Anglo American is re-imagining mining to improve people’s lives.

www.angloamerican.com

Date: 15/11/2019 11:48:00
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