| Mon 2 Jun 2008, 11:42 | | AQP - Aquarius Platinum Limited - Unprotected strike action at Everest Mine |
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AQP
AQP
AQP - Aquarius Platinum Limited - Unprotected strike action at Everest Mine
Aquarius Platinum Limited
(Incorporated in Bermuda)
Registration Number: EC26290
Share Code JSE: AQP
ISIN Code: BMG0440M1284
Monday, 2 June 2008
Unprotected Strike Action at Everest Mine
Aquarius Platinum South Africa (AQPSA) advises that on late Wednesday, 28 May
2008, 42 load-haul-dumper (LHD) operators embarked on an unprotected work
stoppage at the company`s Everest Mine. On Thursday, 29 May 2008, the remainder
of the underground workforce (some 1,300 employees) joined the work stoppage in
sympathy with the LHD operators.
Following discussions with employee representatives and the National Union of
Mineworkers (NUM), notice in terms of the South African Labour Relations Act was
given to employees that they should return to work on Monday, 2 June 2008.
AQPSA has applied for and obtained a Labour Court interdict in support of this
notice.
AQPSA is committed to addressing and resolving the issues under dispute and, in
addition to building constructive relations with the NUM on site, has embarked
on a process to educate employees on the process of industrial engagement in
line with South Africa`s labour relations regime and to foster good
union/management relationships. Employees at Everest mine have only recently
been employed by AQPSA and many of the labour relations tactics employed stem
from a lack of experience in collective bargaining and the previous
contractor/employee relationship.
Production losses are small at this stage - in the region of 1,300 ounces of
PGMs (650 ounces per day).
For further information please contact:
In Australia and the United Kingdom:
Nick Bias
Aquarius Platinum
+ 44 7887 920 530
In South Africa:
Charmane Russell
Russell & Associates
+27 11 880 3924
Sponsor: Investec Bank Limited
Date: 02/06/2008 11:42:01 Produced by the JSE SENS Department.
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