AngloGold Ashanti Limited
(ASX:AGG) has reached a three year wage deal with the majority of its employees in South Africa.
The company says the aim of the deal is to provide employees with a fair increase, whilst providing operations with a degree of certainty at a challenging time for the industry.
As part of the deal miners, artisans and officials will receive a pay increase of 6 per cent in year 1, and 6 per cent or CPI in year’s 2 and 3.
The gold miner has also increased severance pay and increased the retirement age for employees.
AngloGold Ashanti reported a net loss of $47.54 million at 31 December 2014.
