Johannesburg - Lonmin on Tuesday confirmed the signing of an agreement leading to the end of the strike which lasted over a month at its Marikana mine in the North West.
Workers are expected to be back at work on Thursday.
“The agreement was signed in Rustenburg at 22h30 this evening (September 18th).
“The agreement includes a signing bonus of R2 000 and an average rise in wages of between 11 and 22 percent for all employees falling within the category 3-8 bargaining units, effective from 1 October 2012.
“This includes the previously agreed 9-10 percent rises for these employees due to come into effect in October 2012,” said Lonmin in a statement issued in London to both the London and Johannesburg Stock Exchanges.
Lonmin said the agreement also addressed issues of promotion for some categories of workers as well as other allowances.
“Tonight's agreement and the subsequent return to work is only one step in a long and difficult process which lies ahead for everyone who has been affected by the events at Marikana, but it is essential in helping secure the futures of our tens of thousands of employees and all those who rely on Lonmin in the region,” said Lonmin's acting chief executive Simon Scott.
The company would update the market on the wider implications of the agreement, including its financial impact in due course. - Sapa