SouthernEra Settlement of Klipspringer Strike

SouthernEra Reports Settlement of the Klipspringer Strike

 

    UnionAgrees to Full Calendar Operations

    Shares Issued and Outstanding: 61,674,459

    TSX: SUF

    AIM: SRE

 

    TORONTO, July 21 /CNW/ - SouthernEra Resources Limited announced today

that the strike at the Company's 50 percent-owned Klipspringer Diamond Mine

has ended following the conclusion of a new 2003 wage agreement.

    In terms of the new wage agreement signed today, the Klipspringer Mine

will pay employees a 5 percent increase in basic salaries. In addition, the

National Union of Mineworkers has agreed to the immediate commencement of a

six-day working week and has also agreed to support the introduction of Full

Calendar (7 days-per-week, 365 days-per-year) Operations. Given the marginal

nature of the Klipspringer Mine, which is exacerbated by the strength of the

South African Rand, it is hoped that the increased productivity achieved

through continuous operations will ensure the profitability of the mine.

    SouthernEra Resources is an independent producer of platinum group metals

and diamonds. The company also has an extensive PGM and diamond exploration

program. The common shares are listed on the Toronto Stock Exchange and the

London Stock Exchange's AIM market.

 

 

 

   

    For further information: please contact - SouthernEra Resources Limited

- Dr. Sally Eyre, Vice President, Corporate Affairs, Telephone:

[phone], Fax: [phone], E-mail: inbox(at)southernera.com

    (SUF. SRE)