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Provider: Thomson Reuters Stock Report

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Coal of Africa Ltd Announces Employees Return To Mooiplaats Colliery As National Union Of Mineworkers Calls Off Strike

Friday, 2 Nov 2012 02:05am EDT 

Coal of Africa Ltd announced that the National Union of Mineworkers (NUM) called-off the wage related strike at its Mooiplaats Colliery on October 30, 2012. The decision follows a meeting held on October 29, 2012 between NUM senior representatives and CoAL to resolve the strike action. The employees returned to work on October 31, 2012, and the collective bargaining unit which constitutes 27% of Mooiplaats Colliery’s monthly salary bill, will receive an increase of 26% cost to company inclusive of medical aid assistance, housing allowance as well as shift and underground allowances with effect from July 01, 2012. The increase from the original offer of 22% is due to the reallocation of certain allowances into the basic salary component. The settlement translates to an increase of approximately 1% on Mooiplaats’ total cost per saleable tonne. 

Company Quote

-0.0010 -1.85%
22 Aug 2014