Normal operations restarted at all the mines operated by Petra Diamonds Limited following the finalisation of a three year wage agreement with the workforce led by the National Union of Mineworkers (NUM). Last week had seen labour disruption at the company’s projects while the terms of the agreement were being negotiated.

Petra said that the three year wage agreement with NUM provides for annual increases to NUM members in the region of 9 to 10% for year one and 8.5% for years two and three.

According to media reports quoting NUM officials, the workers will also get other indirect benefits such as a living out allowance, a home ownership subsidy scheme, medical benefits, ex-gratia payments and enhanced leave.

Petra said that the agreement would not have any material impact either on its cost guidance for FY 2018 or its production guidance which would remain at 4.8 to 5.0 million carats for FY 2018.