Sibanye confirms wage agreement for East Boulder workers, strikes continue at Stillwater East, Columbus continue
NYSE- and JSE-listed precious metals miner Sibanye-Stillwater's workforce has successfully ratified a new collective bargaining agreement at the East Boulder mine in Montana, in the US, effective retroactively from August 1 this year to July 31, 2029, with the United Steel Workers International Union (USW).
The new agreement provides a wage increase of 4.5% in year one and the greater of 3.5% or consumer price index (CPI) in year two and the greater of 3% or CPI in year three of the agreement.
In the US, Sibanye owns and operates the Stillwater and East Boulder underground mines along with the Columbus Metallurgical Complex.
The agreement is an important step for Sibanye in implementing its US PGM operations’ plan of full mechanisation, including a move away from a rock-breaking incentive to a team-based incentive, as well as modernising certain legacy benefits that are out-of-scope with the US market.
Strike action by members of the USW at the Stillwater East mine and Columbus metallurgical facility continues.
The company says it remains committed to constructive engagement to reach an agreement that enables long-term sustainability of the operations.
