GOLD INDUSTRY AGREEMENT ENDS STRIKE

The strike in the gold mining industry has been called off after the companies and the unions were today able to find consensus on wage increases and other conditions of employment. The Chamber of Mines and the three unions today signed a two-year wage agreement.

"We are very happy that agreement has been reached to end the strike. I would like to commend the mining companies and the leadership of the NUM, Solidarity and UASA for their role in finding compromises to end the strike", said Dr Elize Strydom on behalf of the gold mining companies.

Even though there are some differences between companies, companies will increase wages as follows in 2011:

· Miners, artisans and officials between 7.5% and 8%;

· Category 5 to 8 employees between 8.5% and 9%; and

· Minimum wages at entry level 10%

Importantly, the parties have finalized a framework agreement in terms of which they will meet within 30 days to co-design arrangements aimed at the effective utilization of mining assets. The Chamber of Mines sees this as a breakthrough which has the potential to improve the sustainability of the gold mining industry.

The unions have indicated that the striking employees will start returning to work later today. The gold mining companies involved are AngloGold Ashanti, Gold Fields, Harmony and Rand Uranium.