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Forbes Coal agrees wage increase

World Coal,

Forbes & Manhattan Coal Corporation (Forbes Coal) has reached an agreement on wages with the Association Mineworkers and Construction Union (AMCU) for employees in categories four to eight. Wages for employees in these categories will increase by 9% for the period from 1 August 2013 to 31 July 2014.

Stephan Theron, CEO of Forbes Coal commented, “We thank everyone involved in these negotiations for the manner in which they have been conducted and to have reached agreement amicably without incident.”

Forbes Coal is a growing coal producer in southern Africa. It holds the majority interest in the Magdalena bituminous and Aviemore anthracite mines in KwaZulu-Natal.

The mines have a substantial resource base and each mine has a projected life span in excess of 20 years. Forbes Coal is in the process of increasing production at both mines, using existing infrastructure and capacity.

Adapted from press release by Katie Woodward

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