23 August 2007

Richards Bay Coal Terminal Company Limited - Wage Negotiations

Yesterday, 23 August 2007 marked the signing of a 3-year (2007-2010) wage agreement between Richards Bay Coal Terminal (RBCT), the single largest coal-exporting terminal in the world, and its recognised trade unions Solidarity and SATAWU.

RBCT and the unions concluded the negotiations on a 3-year wage agreement, increasing salaries by 8% with effect from 1 July 2007 and CPIX plus 1% related increases (guaranteed minimum of 6,5%) on 1 July 2008 and 2009, respectively.

The agreement also included a range of benefits and career development issues aimed at improving employees’ conditions of employment and service.

"We are pleased with the kind of relationship that we have with RBCT management and particularly impressed by their professionalism during the negotiation process. Despite our disagreements, we were finally able to reach an agreement which we see as a significant achievement for our members", said Guqani Mhlongo, SATAWU representative.

"This is indeed a significant achievement for our employees. We are pleased that both RBCT and the unions were finally able to reach a settlement based on a 3-year agreement. It is an explicit demonstration of our constructive and sound relationship with our social partners, which is key to ensuring that RBCT remains a global leader in its industry. This agreement is good for RBCT, the coal industry and South Africa at large", commented Kuseni Dlamini, Executive Chairman of RBCT.

RRBCT values its partnership with organised labour and has one joint recognition agreement with both Solidarity and SATAWU. Wage negotiations will resume again in 2010.

RBCT is the largest single export coal terminal, exporting more that 68 million tons of coal to buyers around the world. RBCT makes a significant economic contribution to KwaZulu-Natal and the country at large both as an employer and an earner of foreign currency.

FOR FURTHER INFORMATION PLEASE CONTACT:
Miss Zama Luthuli
Richards Bay Coal Terminal
Cell: 083 399 3111
Email : zluthuli@rbct.co.za