NHM - Northam - Unprotected Strike Action At North
NHM
NHM
NHM - Northam - Unprotected Strike Action At Northam Platinum Mine
NORTHAM PLATINUM LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1977/003282/06)
Share code: NHM
ISIN code: ZAE000030912
("Northam" or "the company")
UNPROTECTED STRIKE ACTION AT NORTHAM PLATINUM MINE
The National Union of Mineworkers (NUM) is continuing with unprotected strike
action at the Northam Platinum mine near Thabazimbi, in spite of broad
acceptance by the union of management proposals tabled at a meeting between the
parties yesterday, Wednesday 2 May 2007.
A total of 5 500 employees began the unprotected work stoppage at the start of
the night shift on Sunday (29 April 2007).
The unprotected action is related primarily to a demand by the NUM for the
relocation of Northam`s Chief Executive Officer from the mine to the company`s
corporate office in Johannesburg and the removal of two mine industrial
relations department officials.
Yesterday`s proposals from management included:
- The immediate appointment of an agreed independent mediator to conduct a
full audit of the mine industrial relations structures, procedures and
processes and to make recommendations;
- The immediate institution of an independently facilitated Relationship By
Objectives (RBO) process to improve relationships; and
- The immediate appointment of an employee relations manager, similarly to
improve relationships.
The NUM and striking workers have been advised that the strike action is
unprotected. They have been informed by management that the `no work, no pay`
rule will apply and that the company reserves its right to seek relief from the
South African courts of law.
So far, loss of revenue due to the unprotected strike action is estimated to be
R24 million.
Johannesburg
3 May 2007
Sponsor:
Barnard Jacobs Mellet Corporate Finance
(Pty) Limited
Contacts:
James Duncan
Tel: 011 880 3924
Mobile: 082 892 8052
Marion Brower
Tel: 011 880 3924
Mobile: 082 895 0698
Date: 03/05/2007 14:39:45 Produced by the JSE SENS Department.
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