AQP - Aquarius Platinum - Update:Unprotected industrial action by contractor
AQP
AQP
AQP - Aquarius Platinum - Update: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
Update : Unprotected industrial action by contractor employees at Kroondal and
Marikana operations
Aquarius Platinum Limited (AQP) advises that further to the announcement of
Wednesday 26 August, the principal underground mining contractor at Aquarius
Platinum (SA) (Pty) Ltd`s (AQPSA) Kroondal and Marikana operations, has
dismissed 3,900 of its employees as a result of unprotected industrial action.
The dismissal was effective on the afternoon of Wednesday 26 August.
AQPSA expects that production at the affected shafts will commence on Monday 31
August and will ramp up over a period of up to two weeks while further employees
are engaged and deployed to these operations. AQPSA anticipates a production
loss of some 15,000 ounces PGMs (4E) (50% attributable to AQP).
The company regrets this outcome, but acknowledges that the process has been
conducted in accordance with the Labour Relations Act.
The relining of the K2 mill has commenced and is scheduled for completion on
Tuesday 1 September.
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
27 August 2009
Sponsor: Investec Bank Limited
Date: 27/08/2009 14:21:22 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.
Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.
