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Harmony Gold reaches wage deal, ending strike

Publication: SABC

South Africa's second-largest gold producer Harmony Gold has reached an agreement with striking employees and hopes that operations will return to normal this week, a spokesperson said on Sunday.

This brings to an end the gold industry strike which started on Tuesday night. Workers at other gold majors like AngloGold Ashanti and Sibanye Gold returned to work on Friday after accepting the industry offer of an increase of between 7.5 and 8%.

Last week, shares in Harmony Gold fell 2.4% after it emerged its miners were the only ones remaining on strike after their colleagues at other producers accepted pay hikes of 8%, far below the 15 to 60% the National Union of Mineworkers had been seeking.

"Harmony would like to urge all its employees who had embarked on strike to start reporting for work as from tonight (Sunday)," the company said in a statement.

The majority of gold mine workers have accepted the new wage offer, the National Union of Mineworkers said on Sunday.

"We are still in consultation with members as some had gone away for the weekend, the majority have accepted the offer...we would be finalising everything with employers on Monday," said general secretary Frans Baleni. - Additional Reporting SAPA

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