Dr. Elize Strydom, chief negotiator for the Chamber of Mines, said, “Clearly, neither the employers nor the workers got everything they wanted. I am, however, comfortable that the agreement being signed today strikes a balance between employee expectations and the long term viability of the industry while taking into account the cyclical nature of the industry and declining production levels. It goes without saying that we are here today as a result of a joint effort between the unions and the employers and therefore all parties deserve credit. I would therefore like to thank NUM, UASA and Solidarity for the part they played in this process.”

In terms of the agreement, which is effective from July 1, 2007, entry level underground workers will now get a minimum of R3,000.00 per month and entry level surface workers will receive a significant increase. Special dispensations have been included for rock drillers and artisans with scarce skills as well as other disbursements made to employees in the gold mining industry. From July 2008, the increment will be calculated on a formula of CPIX (Consumer Price Index excluding interest rates on mortgage bonds) + 1% with a guaranteed minimum of 8%.