| Wed 26 Aug 2009, 8:23 | | AQP - Aquarius Platinum - Unprotected industrial action by contractor employees |
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AQP
AQP
AQP - Aquarius Platinum - Unprotected industrial action by contractor employees
at Kroondal and Marikana operations
Aquarius Platinum Limited
(Incorporated in Bermuda)
Registration Number: EC26290
Share Code JSE: AQP
ISIN Code: BMG0440M1284
26 August 2009
Unprotected industrial action by contractor employees at Kroondal and Marikana
operations
Aquarius Platinum Limited advises that certain employees of the principal
underground mining contractor, Murray and Roberts Cementation (MRC), working at
Aquarius Platinum (SA) (Pty) Ltd`s (AQPSA) Kroondal and Marikana operations,
have embarked on unprotected industrial action since the evening shift on Sunday
23 August, affecting about three quarters of the underground mining operations.
This industrial action is despite a wage settlement of 10.2% having been agreed
between MRC and the National Union of Mineworkers (NUM) on Friday 21 August,
which resulted in the withdrawal by the union of a strike notice. An ultimatum
has been served on employees to return to work, failing which the contractor is
entitled to terminate employment. AQPSA remains hopeful that the matter can be
resolved without resorting to mass dismissals. In meetings with management a
number of employees have already indicated that they wish to accept the
settlement and return to work. In the event that MRC proceeds with the
dismissals, there will be an impact on production at Kroondal and Marikana,
while employees are engaged and deployed to these operations.
Steps to mitigate the impact of the action on the operations are in hand,
including milling stockpiles. Major maintenance operations, including the
relining of the K2 mill previously planned for October 2009, have been
rescheduled and will be undertaken this week.
Further updates will be released in due course.
For further information please contact:
In Australia:
Willi Boehm+61 (0) 8 9367 5211
In the United Kingdom:
Stuart Murray
+ 27 (0) 11 656 1140
In South Africa:
Charmane Russell
+27 (0) 11 880 3924
Date: 26/08/2009 08:23:09 Produced by the JSE SENS Department.
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