| Tue 19 May 2009, 10:05 | | SIM - Simmers - News release - Buffelsfontein Gold Mine concludes two year wage |
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SIM
SIIF
SIM - Simmers - News release - Buffelsfontein Gold Mine concludes two year wage
agreement with organised labour
Issued by Simmer & Jack Mines, Limited
(Incorporated in the Republic of South Africa)
(Registration number 1924/007778/06)
Share code: SIM
ISIN Code: ZAE000006722
("Simmers"or "the Company" or "the Group")
NEWS RELEASE
BUFFELSFONTEIN GOLD MINE CONCLUDES TWO YEAR WAGE AGREEMENT WITH ORGANISED
LABOUR
Simmers` Buffelsfontein Gold Mine in the North West has concluded two-year wage
agreements with trade unions United Association of South Africa (UASA),
Solidarity, the South African Equity Workers Association (SAEWA) and the
National Union of Mineworkers (NUM).
The agreements, which expire on 31 March 2011, are CPI-related and govern
salaries and conditions of employment for all officials, union men and Level
5 - 8 employees in the respective bargaining units of the four unions.
This process concludes the Group`s two-year wage-cycle negotiations at all
four of its operations.
Deon van der Mescht, MD of Simmers` gold operations said that he was satisfied
with the process and outcome of the negotiations: "The negotiations went well
as the unions worked hard, managed their side of the process responsibly and
acted in good faith. The resulting contracts align the interests of Simmers
and its employees, allowing the Company to meet its production and budget
targets safely and sustainably to the benefit of all stakeholders."
About Simmers
Simmer & Jack is a gold and uranium miner focused on the development
and expansion of surface and underground operations in South Africa. These
include a 41% stake in TSX and JSE-listed First Uranium Corporation which is
aiming to become a significant low-cost producer through the re-opening and
underground development of the Ezulwini Mine and the expansion of the Mine
Waste Solutions tailings recovery operation. Simmers` has two wholly-owned
gold operations: Buffelsfontein Gold Mine in the North West Province and
Transvaal Gold Mining Estates Limited (TGME) in the Pilgrim`s Rest/Sabie gold
field. Simmers entered into an agreement with AngloGold Ashanti on 17 February
2009 to purchase 100% of the Tau Lekoa mine, situated 12 km`s from
Buffelsfontein Gold Mine. The deal is subject to certain conditions precedent
and is expected to close on 01 January 2010.
19 May 2009
For further information about Simmers please contact:
Gail Strauss at 084 777 4060, or gail@simmers.co.za
Sponsor
Sasfin Capital
(A division of Sasfin Bank Limited)
Date: 19/05/2009 10:05:16 Produced by the JSE SENS Department.
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