LON - Lonmin Plc - Lonmin agrees wage adjustment with NUM
LON
LOLMI
LON - Lonmin Plc - Lonmin agrees wage adjustment with NUM
Lonmin Plc
(Incorporated in England and Wales)
(Registered in the Republic of South Africa under registration number
1969/000015/10)
JSE code:LON
Issuer Code:LOLMI & ISIN:GB0031192486
("Lonmin")
10 September 2008
Lonmin agrees wage adjustment with NUM
In October 2007, Lonmin and the National Union of Mineworkers ("NUM") agreed a
two year wage agreement for Lonmin`s Marikana operations. In recognition of the
unprecedented increases in the levels of inflation in South Africa, Lonmin has
agreed to increase the basic wage adjustment in the second year of this
agreement to 12.5%. This adjustment is in line with current CPIX levels in
South Africa and will take effect from 1 October 2008 for employees in the
Marikana category 3 to 9 bargaining unit.
Lonmin is pleased to have reached this new agreement with NUM which recognises
the increases in the cost of living in South Africa and looks forward to
continuing to work with NUM to deliver its operational and transformational
objectives.
Enquiries:
Alex Shorland-Ball +44 (0)207 201 6060
Vice President,
Investor Relations & Communications
Date: 10/09/2008 11:00:04 Produced by the JSE SENS Department.
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