South African Gold Companies Reach Wage Accord With Labor Unions – Wall Street Journal

JOHANNESBURG—South African gold companies Harmony Gold Mining Co. Ltd. and AngloGold Ashanti Ltd. reached three-year wage agreements Friday with unions, as the industry wrestles with higher costs and falling profitability.

The National Union of Mineworkers, UASA and Solidarity, which together represent the majority of employees at their mines, all agreed to the wage deal, concluding contentious four-month negotiations, the Chamber of…