| Mon 13 Jul 2009, 7:57 | | EPS - Eastern Platinum - Illegal Industrial Action By Contract Miners At |
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EPS
EPS
EPS - Eastern Platinum - Illegal Industrial Action By Contract Miners At
CRM Ends
News Release
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 ENDS
Mr Ian Rozier, President and CEO of Eastern Platinum Limited ("Eastplats") is
pleased to report that the illegal industrial action in the form of a `sit-in`
underground by some 500 employees of the mining contractors at Eastplats`
Crocodile River Mine ("CRM"), as reported on Friday 10th July, has ended.
The supervisory employees of the mining contractors, who were detained against
their will, returned to surface at approximately 17:30 on Friday July 10th.
The employees of the mining contractors involved in the illegal
action voluntarily returned to surface at approximately 04:30 on Saturday July
11th following successful mediation between the parties involved, and have been
transported home.
The illegal `sit-in` by the employees of the mining contractors began on
Thursday July 9th during the morning shift at CRM`s Zandfontein Section. Those
involved are demanding to be employed directly by CRM and not by their
respective mining contractor employers. CRM management has indicated that it
remains committed to ongoing discussion on this issue through the appropriate
channels provided under the terms of South Africa`s labour relations
legislation.
CRM Management expects that normal operations at the Zandfontein section will be
resumed at the start of the morning shift on Monday 13 July.
"Our primary focus has been to resolve this situation safely for everyone
involved and we are very pleased that this has been achieved successfully. We
would like to thank all those involved in achieving this safe outcome and trust
that we can collectively move forward with negotiations in a spirit of good
faith", stated Ian Rozier.
Total shares issued and outstanding - 680,557,369
July 13, 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: 13/07/2009 07:57:39 Produced by the JSE SENS Department.
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