| Fri 10 Jul 2009, 7:56 | | EPS - Eastern Platinum Limited - News Release - Illegal industrial action by |
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EPS
EPS
EPS - Eastern Platinum Limited - News Release - Illegal industrial action by
contract miners at CRM
EASTERN PLATINUM LIMITED
(Incorporated in Canada)
(Canadian Registration number BC0722783)
(South African Registration number 2007/006318/10)
Share Code TSX: ELR ISIN: CA2768551038
Share Code AIM: ELR ISIN: CA2768551038
Share Code JSE: EPS ISIN: CA2768551038
Trading Symbol: ELR (TSX & AIM) EPS (JSE)
NEWS RELEASE
ILLEGAL INDUSTRIAL ACTION BY CONTRACT MINERS AT CRM
Mr. Ian Rozier, President and CEO of Eastern Platinum Limited ("Eastplats")
reports that an illegal action by approximately 500 contract miners has taken
place at its Crocodile River Mine ("CRM").
The contract workers involved in this illegal action are demanding that they be
directly employed by CRM, which is in contravention with both contractual
agreements in place between CRM and the mining contractors, and contractual
agreements between the mining contractors and their employees. This demand and
associated illegal action is not supported by Eastplats, the National Union of
Mineworkers ("NUM"), or by the mining contractors involved.
The contract workers involved in this illegal action have staged a `sit-in` in
an underground area close to the entrance to the mine. Despite the best efforts
of negotiators from CRM, the mining contractors and the NUM, the workers
participating in the illegal `sit-in` have refused to vacate the mine and have
detained seven supervisory employees of the mining contractors against their
will and who are not involved in this action.
The mining contractors are in the process of obtaining a court interdict which
will require their employees; to refrain from participating in illegal and
unprotected strike action; to release those who are being detained against their
will; and to vacate the underground working areas.
Eastplats is primarily concerned with the safety of all personnel underground
and is taking all possible steps to facilitate the resolution of this dispute
between the mining contractors and their own employees. Mine management remains
available and committed to peaceful discussions with employee representatives
through the appropriate channels provided for within South Africa`s labour
relations regime. For safety reasons, management has removed all other
underground employees from underground and is committed to resolving this
situation as expeditiously as possible. Representatives from the South Africa
Police Services are on site to assist in resolving the matter.
More information will be provided as it becomes available.
Total shares issued and outstanding - 680,557,369
10 July 2009
For further information, please contact:
EASTERN PLATINUM LIMITED
Ian Rozier, President & C.E.O.
+1-604-685-6851 (tel)
+1-604-685-6493 (fax)
info@eastplats.com
www.eastplats.com
NOMAD - Canaccord Adams Limited
Ryan Gaffney - Ryan.Gaffney@CanaccordAdams.com
+44 20 7050 6500
JSE SPONSOR - PSG Capital (Pty) Limited
Anje Gregory - anjeg@psgcapital.com
+27 21 887 9602
No stock exchange, securities commission or other regulatory authority has
approved or disapproved the information contained herein.
Certain statements included herein constitute "forward-looking statements"
within the meaning of applicable Canadian securities legislation. These forward-
looking statements are based on certain assumptions by Eastplats and as such are
not a guarantee of future performance. Actual results could differ materially
from those expressed or implied in such forward-looking statements due to
factors such as general economic and market conditions, increased costs of
production and a decline in metal prices. Eastplats is under no obligation to
update or revise any forward-looking statements, whether as a result of new
information, future events or otherwise, except as required by applicable laws.
Date: 10/07/2009 07:56:01 Produced by the JSE SENS Department.
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