Lace Diamond Mine Wage Agreement Reached
February 19, 15
(IDEX Online News) – Lace Diamond Mines (Pty) Limited has signed a four-year wage agreement with the Association of Mineworkers and Construction Union (AMCU) that covers all employees at the Lace diamond mine in the Free State province of South Africa.
The agreement is based around an 8-percent annual increase in basic salary for most categories, along with a progressive lift in the lowest categories to R12,500 ($1070) per month basic salary over the four year period.
"This long wage agreement will provide industrial relations stability at the Lace mine during the critical mine start up years and demonstrates a solid maturing of relationships between the union and management,” said DiamondCorp CEO Paul Loudon.
“We are particularly pleased to have negotiated a four year agreement rather than the more common two or three year agreement".
Lace Diamond Mines (Pty) Limited is a 74-percent owned subsidiary of DiamondCorp, a Southern African diamond development and exploration company.