SENS announcement for JSE listed company: GFI
BACK TO SENS

GOLD FIELDS LIMITED – Gold Fields’ South Deep Gold Mine and the NUM and UASA reach three-year wage agreement

  Download PDF
  PRINT   Sens history   Click this Company   Company News

                            

Gold Fields’ South Deep Gold Mine and the NUM and UASA reach three-year wage agreement

Gold Fields Limited
(Reg. No. 1968/004880/06)
(Incorporated in the Republic of South Africa)
(“Gold Fields” or “the Company”)
JSE, NYSE, DIFX Share Code: GFI
ISIN Code:ZAE000018123

MEDIA RELEASE

GOLD FIELDS’ SOUTH DEEP GOLD MINE AND THE NUM AND
UASA REACH THREE-YEAR WAGE AGREEMENT

Westonaria, 11 June 2021: Gold Fields’ South Deep Gold Mine and
the NUM and UASA trade unions have concluded a three-year wage
agreement for the period 1 March 2021 to 28 February 2024.

The parties believe that the agreement is in the best interest of
employees and the mine’s long-term sustainability.

The agreement provides for the following:

? Category 4 – 8 employees will receive a wage increase of 8%
in year 1, and 8% or CPI (whichever is the greater) in years 2
and 3.
? Miners, Artisans and Officials will receive a wage increase of
6% in year 1, and 6% or CPI (whichever is the greater) in years
2 and 3.
? CPI-related increases will also be applied to housing
allowances. Living-out allowances will be phased out over the
three-year period, as required by the Department of Mineral
Resources and Energy, and as the mine rolls out its housing
strategy.

The total increase of the settlement amounts to an average increase
of 6.5% a year over the three-year period.

A range of non-wage related issues have also been agreed to,
including an alignment of leave and shift configurations, as well as
amendments to other conditions of employment with a view to
standardise them across all occupational levels and simplifying
associated administrative processes.

NUM PWV Regional Chairperson, Ndlela Radebe, said: “Considering
the difficult circumstances South Africa and the world are facing due
to the Covid-19 pandemic, we are satisfied with the settlement we
have entered into. We believe it will go a long way in improving the
livelihoods of workers and their families, while sustaining the business
and ensuring sustainable job security.

“We wish to commend all parties involved (the NUM, UASA and the
Gold Fields South Deep management team) for the constructive and
-2-

harmonious spirit in which wage negotiations were undertaken. This is appreciated. As the NUM, we
look forward to continuing the much-improved working relationship between the parties for the
foreseeable future.”

Divisional Manager and Chief Negotiator for UASA, Franz Stehring noted: “Given the prevailing
economic climate and the bullish commodity market, the settlement reached with South Deep Gold Mine
through constructive engagements sets a benchmark for other mining companies.”

Gerrit Lotz, VP People and Organisational Effectiveness at South Deep, concluded: “The settlement
agreement is fair and balanced, taking into account the impact that increases in cost of living are likely
to have on employees over the next three years, and the future sustainability of our mine. We commend
all parties for the constructive manner in which the negotiations have taken place.”

Enquiries

Media

Sven Lunsche
Tel: +27 11 562-9763
Email: Sven.Lunsche@goldfields.com

Memory Johnstone
Mobile: +27 82 719 3081
Email: memory@rasc.co.za

Investors

Avishkar Nagaser
Mobile: +27 82 312 8692
Email : Avishkar.Nagaser@goldfields.com

Thomas Mengel
Mobile: +27 72 493 5170
Email: Thomas.Mengel@goldfields.com

ends
Notes to editors

About Gold Fields

Gold Fields Limited is a globally diversified gold producer with nine operating mines and one project in Australia, Chile, Ghana (including our
Asanko Joint Venture), Peru and South Africa, with total attributable annual gold-equivalent production of 2.24Moz. It has attributable gold-
equivalent Mineral Reserves of 52.1Moz and gold Mineral Resources of 116.0Moz. Gold Fields has a primary listing on the Johannesburg Stock
Exchange (JSE) Limited, and an additional listing on the New York Stock Exchange (NYSE).

Sponsor: J.P. Morgan Equities South Africa (Pty) Ltd

Date: 11-06-2021 11:40:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited (‘JSE’).
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.


  Download PDF
  PRINT   Sens history   Click this Company   Company News
BACK TO SENS
INSIDER SUBSCRIPTIONS APP VIDEOS RADIO / LISTEN LIVE SHOP OFFERS WEBINARS NEWSLETTERS TRENDING PORTFOLIO TOOL CPD HUB

Follow us:

Search Articles: Advanced Search
Click a Company: