The Mineworkers Union of Namibia has signed a wage agreement with Swakop Uranium for the next three years.

The agreement will see employees within the bargaining unit receiving N$5000 on their basic salaries this year, N$5 450 next year and N$5 900 in 2025.

The amounts represent salary increases of 5.8%  this year and 5.5% next year within the bargaining unit.

The parties commenced with wage negotiations which culminated in the signing of a three-year wage agreement for 2023-2025.

The Chief Executive Officer of the mine, Qiu Bin says parties believe that the wage increases are in the best interest of both the company and its employees.

Bin explained that the agreement also reflects the intent of both parties to ensure the continued sustainability of the business and strengthen labor relations at one of the biggest mining companies in the country.

He commended the company's negotiating team and MUN branch in the Erongo Region for conducting the negotiations in a harmonious manner, with mutual respect and trust.

He further says that as one of the largest employers in Namibia, Swakop Uranium's business approach is geared towards ensuring its operations and its stakeholders enjoy the long-term benefits of the mine's existence.

Both parties agreed that as part of the three-year wage agreement, the taxable and non-pensionable housing benefit shall be applicable to the employees within the bargaining unit.