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South Africa gold wage hikes to add 1.5 bln rand a year in costs
September 11, 2013 / 12:11 PM / 4 years ago

South Africa gold wage hikes to add 1.5 bln rand a year in costs

JOHANNESBURG, Sept 11 (Reuters) - South Africa’s Chamber of Mines said on Wednesday that wage settlements in the gold sector would amount to 1.5 billion rand ($150 million) in extra costs for companies over the next 12 months.

Companies and unions agreed to wage hikes of up to eight percent last week, ending a three-day strike. ($1 = 9.9784 South African rand) (Reporting by Ed Stoddard; Editing by Jon Herskovitz)

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