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Strikes End at Petra Diamonds’ Mines

Company reaches agreement with South African union
Oct 1, 2017 3:34 AM   By Rapaport News
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RAPAPORT...
Petra Diamonds has reached a new wage agreement with workers at three of its South African mines, bringing strikes at the projects to an end.

The company struck a deal with the National Union of Mineworkers over salaries at the Finsch and Koffiefontein operations, meaning employees could return to work Friday, the miner said Thursday. Petra subsequently announced that the trade union representing workers at the Kimberley mine had signed the same agreement.

Industrial action during negotiations of the new wage agreement did not affect Petra’s other mine in South Africa, the Cullinan mine.

The new deal — which provides for certain annual wage increases — will not have a significant impact on Petra’s production outlook of 4.8 million to 5 million carats for the fiscal year ending June 30, the company said.
Tags: Cullinan, Finsch, kimberley, Koffiefontein, mining, National Union of Mineworkers, petra, Petra Diamonds, Rapaport News, South Africa, strikes
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