Diamond giant De Beers has confirmed that it has finalized its wage negotiations with the National Union of Mineworkers (NUM).

According to a De Beers press release, the negotiations were facilitated by the Commission for Conciliation, Mediation and Arbitration (CCMA).

The diamond miner and NUM have settled their wage dispute to the effect that employees in the A and B band level will receive a 10% increase, and the C band employees a 9.5% increase.

A rotational shift allowance is paid to qualifying employees; this allowance will be increased to eight per cent of the individual’s basic wage. The settlement will be implemented retroactively, starting May 2010.

The miners' minimum basic wage will rise from R5,000 to R5,500 – the starting level in the A band job category.

De Beers Industrial Relations head, Wayne Smerdon commented: “De Beers appreciates the mediation role carried out by the CCMA. We sought to find common ground with the NUM negotiating team and we have reached that point.

“The Company has settled the current wage negotiations amicably, and without any disruption to the economy, the mines, or to the livelihood of De Beers' employees.”