Implats Reaches Five-Year Wage Settlement With South African Union

By Jaime Llinares Taboada

Impala Platinum Holdings Ltd. said Tuesday that it has signed a five-year wage settlement with the Association of Mineworkers and Construction Union in South Africa.

The precious-metals mining company said that the deal is in line with the current mining inflation of 6.5% and "considers the reality of sustained inflationary pressures" faced by employees.

Implats said that the deal secures five years of stability at its operations.

Write to Jaime Llinares Taboada at [e-mail]; @JaimeLlinaresT

(END) Dow Jones Newswires

06-28-22 0742ET