Windhoek — Rössing Uranium Limited has concluded negotiations with the Mineworkers Union of Namibia (MUN) for salary increases for 2013 and 2014.

The two-year salary arrangement was agreed on yesterday, following endorsement by employees at a meeting also held yesterday. The two-year agreement, amongst other benefits, provides employees in the bargaining unit a 3 percent increase in 2013, and a further increase of 8 percent in 2014.

The salary negotiation took place in a mutually co-operative spirit with both parties sharing a common understanding of the challenges facing the business, the uranium mine says. "This agreement reflects what can be achieved when management, employees, and their union, are aligned in what is required to ensure the viability of the business. The agreement continues the journey of continuous improvement that Rössing is undertaking with significant improvement already achieved in safety performance, increased productivity, and lower operational costs.

"The strict control on all aspects of cost performance also reflects the short term challenges facing the uranium industry in Namibia, given the recent significant decreases in the price of uranium, and escalating local cost pressures," read a statement from the mining company.