Tharisa Mine concludes wage agreement

RNS Number : 5251I

Tharisa PLC

27 November 2018

 

THARISA PLC

(Incorporated in the Republic of Cyprus with limited liability)

Registration number: HE223412

JSE share code: THA

LSE share code: THS

ISIN: CY0103562118

('Tharisa')

Tharisa Mine concludes wage agreement

Shareholders are advised that a market related two-year Collective Agreement on Substantive Terms and Conditions of Employment has been concluded with the Association of Mineworkers and Construction Union (AMCU), the recognised trade union at the Tharisa Mine in South Africa. The agreement is effective from 1 July 2018 until 30 June 2020, and applies to employees who are subject to the bargaining unit at the Tharisa Mine.

The successful conclusion of the agreement is a positive development for the Tharisa group and the affected employees. The negotiations were conducted in a constructive manner, and we commend our employees for continuing to work uninterrupted throughout the negotiation process, ensuring that Tharisa maintained its operating performance. The agreement underpins the ongoing stability of Tharisa's labour relations and allows the Tharisa Mine to focus on growing the business for the benefit of all stakeholders.  

Paphos, Cyprus

27 November 2018

JSE Sponsor

Investec Bank Limited

Financial PR contacts:

Bobby Morse / Augustine Chipungu

[phone]

[e-mail] 

Broker contacts:

Peel Hunt LLP (UK Joint Broker)

Ross Allister / James Bavister / David McKeown

[phone]

BMO Capital Markets Limited (UK Joint Broker)

Jeffrey Couch / Thomas Rider

[phone]

Berenberg (UK Joint Broker)                                                      

Matthew Armitt / Sara MacGrath

[phone]

Nedbank Limited (acting through its Corporate and Investment Banking division) (RSA Broker)

Shabbir Norath / Reginald Demana

[phone]

Investor relations contacts:

Daniel Thole/Ilja Graulich

[phone]/[phone]

 

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