SIM - Simmer And Jack Mines Limited - Buffelsfonte
SIM
SIIF
SIM - Simmer And Jack Mines Limited - Buffelsfontein strike ends
SIMMER AND JACK MINES LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1924/007778/06)
Share code: SIM
ISIN: ZAE000006722
("Simmers")
BUFFELSFONTEIN STRIKE ENDS
Following a weekend of negotiations, Simmer & Jack is pleased to announce that
an agreement has been reached with the National Union of Mineworkers (NUM),
ending the four day strike that began on Wednesday evening (May 9) at the
company`s Buffelsfontein Gold Mine.
Agreement between NUM and management was reached late on Saturday May 12,
allowing workers to report for the evening shift on Sunday May 13.
Chief operating officer, Deon van der Mescht said that the deal had been reached
based on a restructuring of the all-inclusive wage package system that is
acceptable to all parties.
"Buffelsfontein has an all-inclusive wage structure consisting of a basic wage
and several allowances and benefits that are calculated as a percentage of that
basic wage. In terms of the new agreement, the basic wage has been increased and
the percentage ratios of the various benefits will be adjusted accordingly. The
overall agreement however remains in line with what the company initially put on
the table so it`s a win-win situation," said Van der Mescht.
He added that the company believed it to be a fair and equitable deal. In
addition to agreeing to restructure the all-inclusive package, NUM has agreed to
work 12 additional shifts over the two year period in exchange for additional
benefits.
CONTACT PERSON: GAIL STRAUSS ON 084 777 4060
JOHANNESBURG
14 May 2007
Sponsor
Sasfin Capital
A Division of Sasfin Bank Limited
Date: 14/05/2007 08:15:01 Produced by the JSE SENS Department.
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