| Mon 13 Jul 2009, 8:15 | | EPS - Eastern Platinum - Barplats Mines Ltd Serves Notice To End Contracts |
|
EPS
EPS
EPS - Eastern Platinum - Barplats Mines Ltd Serves Notice To End Contracts
With Two Contract Mining Companies At Crocodile River Mine
EASTERN PLATINUM LIMITED
(Incorporated in Canada)
(Canadian Registration number BC0722783)
(South African Registration number 2007/006318/10)
Share Code TSX: ELR ISIN: CA 2768551038
Share Code AIM: ELR ISIN: CA 2768551038
Share Code JSE: EPS ISIN: CA 2768551038
Trading Symbol: ELR (TSX & AIM) EPS (JSE)
NEWS RELEASE
BARPLATS MINES LTD SERVES NOTICE TO END CONTRACTS WITH TWO CONTRACT MINING
COMPANIES AT CROCODILE RIVER MINE
Mr. Ian Rozier, President and CEO of Eastern Platinum Limited ("EASTPLATS"),
reports;
A news release was issued on Friday 10th July reporting the successful end to an
illegal `sit in` at the Crocodile River Mine ("CRM") in North West Province,
South Africa.
Subsequent to the events of last week, Barplats Mines Ltd has served notice to
terminate the services of the Contract Mining companies whose employees were
involved in the illegal sit in at CRM. The contracts will terminate with
immediate effect. CRM confirms that the company has brought charges against
those individuals employed by the contractor companies who were engaged in the
illegal activities of last week, specifically in relation to safety and health
transgressions, and to the holding of other underground personnel against their
will, as documented by the South African Police Services ("SAPS") from
statements made by those held.
CRM intends to undertake all core mining activities with mineworkers directly
employed by CRM. Currently, CRM directly employs 1,500 people and will engage
the additional employees required in the immediate future. The labour compliment
to be directly employed by CRM and the specific skills sets required are still
to be determined.
This process is expected to have a short term impact on production.
The processing plant at CRM has continued to operate at full capacity from
the surface ore stockpile since the beginning of the illegal `sit-in` that
began on Thursday 9 July. Currently about 25% of production at CRM comes from
the Maroelabult section, which was unaffected by the illegal action. CRM will
reassign crews currently in its direct employ in order to expedite the
transition of all core mining activities at CRM to `owner mining` This will
enable about 50% of current production to be achieved immediately mitigating
the impact of the transition.
In line with a Memorandum of Understanding ("MOU") signed with the National
Union of Mineworkers ("NUM") on Saturday (11th July) and with South African
labour legislation, CRM will discuss its plans with the NUM to move towards
direct employment for all core mining activities.
"The direct employee/contractor employee issue in the mining sector in South
Africa is a complex one and is a high priority for the mining industry and the
NUM to resolve. However, in light of the legal and safety issues surrounding the
events of last week, we have no alternative but to terminate the services of the
Contract Mining companies.
Barplats is committed to dealing with this issue in a direct and transparent
manner such that we achieve the common objectives of both the company and the
NUM. We will now move forward towards achieving the process of direct employment
of workers for our core mining activities to create a productive relationship
with our employees" 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 08:15:06 Produced by the JSE SENS Department.
The SENS service is an information dissemination service administered by the
JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or
implicitly, represent, warrant or in any way guarantee the truth, accuracy or
completeness of the information published on SENS. The JSE, their officers,
employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature,
howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
