INVESTORS AND MEDIA Media releases
Johannesburg, 10 April 2015: Gold Fields Limited (Gold Fields) (JSE, NYSE, NASDAQ Dubai: GFI) is pleased to announce that it has reached a three-year wage and other conditions of employment agreement with its registered trade unions at its South Deep mine in South Africa.
The agreement, which was signed with the National Union of Mineworkers and UASA today, will result in average annual wage increases of 10% over the three-year period of the deal. The first increase will take effect on 1 April 2015.
The negotiations took place at a company-level in recognition of South Deep’s significantly different operating model and labour profile to that of the other gold mining companies in South Africa. South Deep is the only fully mechanised gold mining operation in South Africa and it employs a small, skilled complement of approximately 3,500 employees.
As such, Gold Fields has had to give due consideration to the scarcity of mechanised mining skills in South Africa and has taken a holistic approach in its negotiations with labour.