South Africa's NUM union signs wage deal with AngloGold

JOHANNESBURG, Sept 21 (Reuters) - South Africa's NationalUnion of Mineworkers (NUM) signed a three-year wage deal withAngloGold Ashanti on Friday, inking the same agreementthat other unions reached with the company earlier in the week.

The agreement will mean an effective pay hike of over 12percent for entry-level underground workers in the first year,over double the inflation rate, an industry trend in recentyears that has hit margins and made many shafts unprofitable.

Gold producers have argued that above-inflation wage hikeshave added to the cost burden in the bullion industry, which hasalso been hit by depressed prices, labour unrest and declininggrades at depths of up to 4 kms (2-1/2 miles).

Harmony Gold , Sibanye-Stillwater andsmaller producer Village Main Reef have yet to sign wageagreements with unions.
(Reporting by Ed Stoddard; Editing by Adrian Croft)

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