INVESTORS AND MEDIA Media releases
Johannesburg, 9 September 2013: Gold Fields Limited (Gold Fields) (JSE, NYSE, NASDAQ Dubai: GFI) is pleased to announce that striking workers of the National Union of Mineworkers (NUM) returned to work at its South Deep mine on Friday after receiving a two-year salary offer from the Chamber of Mines.
The settlement will also be extended to UASA, the only other trade union present at South Deep. In terms of the agreement:
Category 4 and 5 employees, and rock drill operators will receive increases of 8% and other employees 7.5%, effective 1 July 2013.
In the second year of the two-year deal employees will receive further CPI-linked increases effective 1 July 2014.
The current monthly living out allowance of R1,640 will increase to R2,000 in two R180 steps, on 1 September 2013 and 2014.
The net effect of the increases will be to raise guaranteed basic pay among South Deep employees in the above categories by an average 7.8%. "We are pleased that the strike was resolved speedily and that it was conducted peacefully. We believe a two-year agreement will promote certainty and stability," said Kgabo Moabelo, Gold Fields' Managing Executive, South Africa.