Anglo American update re. Platinum

RNS Number : 0780O

Anglo American PLC

05 October 2012

 



5 October 2012
Anglo American update re. Anglo American Platinum Anglo American plc draws attention to an announcement issued by Anglo American Platinum Limited, the text of which is set out below:

Anglo American Platinum update

Anglo American Platinum Limited ("Anglo American Platinum") is providing an update on the ongoing illegal industrial action around its Rustenburg mining operations. It has been three weeks since the initial safety suspension and the subsequent industrial action by employees in the Rustenburg area.

Despite the company's repeated calls for employees to return to work, we have continued to experience attendance levels of less than 20%. Currently four of the company's mining operations in the Rustenburg area have insufficient staff to operate and only essential services are being carried out at those mines.

Our Rustenburg concentrators, smelters and refineries and Bathopele Mine continue to operate normally.

Disciplinary hearings for striking Rustenburg mine employees have been completed and affected employees will be informed of the outcome of the hearings today. Those employees will have three working days to appeal the outcome. Approximately 12,000 striking employees chose not to make representations, nor attend the hearings, and have therefore been dismissed in their absence.

Anglo American Platinum also confirms that the company has begun to experience strike contagion at its Union and Amandelbult (Tumela and Dishaba) operations, where workers have presented memorandums of demands similar to those received in Rustenburg.

The Union and Amandelbult Mines, including Mortimer Smelter, are not in operation due to insufficient attendance.

Anglo American Platinum confirms that as a result of the illegal industrial action of its employees and the initial safety suspension, total lost platinum production has amounted to 39,000 ounces, resulting in approximately R700 million of lost revenue.

Chris Griffith, Anglo American Platinum CEO, says: "The Company is committed to participating in the Platinum centralised engagement structures driven by the Chamber of Mines, as well as exploring the possibility of bringing forward wage negotiations within our current agreements."

Anglo American Platinum continues to work with the local authorities and other stakeholders to support the restoration of law and order to the affected areas."

Further updates will be provided when appropriate.

 

END

 

 

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