Sibanye-Stillwater hikes wage offer for striking South Africa mineworkers (NYSE:SBSW)

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Sibanye-Stillwater (NYSE:SBSW) gave South African gold mine workers a higher wage offer on Friday, Reuters reports, a month and a half into a strike at its gold operations in the country.

Sibanye’s (SBSW) latest offer includes annual increases of 850 rand per month during 2022-24, including a 50 rand increase in living out allowance, for entry level employees, while maintaining its offer for a 5% annual pay raise for miners, artisans and officials.

The miner previously offered entry-level workers an annual increase of 800 rand per month, including a 100 rand per month increase in living out allowance.

Sibanye-Stillwater (SBSW) “may be the most undervalued mining company today,” Harrison Schwartz writes in a bullish analysis published on Seeking Alpha.

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