It will see compensation paid to eligible mineworkers suffering from the fatal lung diseases silicosis or tuberculosis.
The agreement was signed at Sunnyside Park Hotel‚ Parktown‚ Johannesburg.
The case was brought by the Legal Resources Centre‚ Abrahams Kiewitz Inc and Richard Spoor Attorneys on behalf of thousands of mineworkers. The Occupational Lung Disease (OLD) Working Group represented the mines – is the first of its kind in South Africa.
In their statement, the lawyers did not reveal the settlement amount but the companies had already said they had set aside R5 billion in provisions for the settlement.
That was already reflected in financial results and so should not impact future earnings, Reuters reports.
The companies involved are Harmony Gold, Gold Fields, African Rainbow Minerals, Sibanye-Stillwater, AngloGold Ashanti and Anglo American, which no longer has gold assets but historically was a major golf bullion producer.
The class action suit was launched six years ago on behalf of miners suffering from silicosis, which is contracted by inhaling silica dust in mines.
The settlement still needs approval by the High Court in Johannesburg before it can be implemented.
“Approval will take place in a number of weeks,” they said.
