| Mon 14 Sep 2009, 15:35 | | DRD - DRDGold Settles with Uasa Num Gives Notice of Labour Action |
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DRD
DRDD
DRD - DRDGold Settles with Uasa, Num Gives Notice of Labour Action
DRDGOLD LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1895/000926/06)
JSE trading symbol: DRD
ISIN: ZAE000058723
Issuer code: DUSM
Nasdaq trading symbol: DROOY
("DRDGOLD" or "the company")
DRDGOLD SETTLES WITH UASA, NUM GIVES NOTICE OF LABOUR ACTION
Blyvooruitzicht Gold Mining Company Limited ("Blyvoor"), East Rand Proprietary
Mines Limited ("ERPM") and Crown Gold Recoveries (Pty) Limited ("Crown"), all
subsidiaries of the DRDGOLD group, have signed a two-year wage settlement with
the United Association of South Africa ("UASA").
In terms of the settlement, employees in the UASA recognition unit at Blyvoor
will receive a 6.5% increase, at Crown a 6% increase and at ERPM a 4% increase.
The Blyvoor increase is backdated to 1 July 2009. The Crown and ERPM increases
are with effect from 1 October 2009.
In addition, employees in the UASA recognition unit are eligible for a gold
price/profit linked incentive scheme, in terms of which their overall increases
can rise to a total of 15%.
The National Union of Mineworkers ("NUM") has been granted strike certificates
in respect of the three operations and strike action is scheduled to begin at
the start of the night shift tomorrow (Tuesday, 15 September 2009).
The NUM has rejected the company`s offer of a 7% increase for lowest-category
employees at Blyvoor and 6.5% for the balance, a 6.0% across-the-board increase
at Crown and a 4% across-the-board increase at ERPM. The NUM also rejected the
gold price/profit linked incentive scheme.
Randburg
14 September 2009
Sponsor
QuestCo Sponsors (Pty) Limited
Date: 14/09/2009 15:35:02 Produced by the JSE SENS Department.
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