|
DRD
DRDD
DRD - DRDGold Strike Action Continues
DRDGOLD LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1895/000926/06)
JSE share code: DRD
ISIN: ZAE000058723
Issuer code: DUSM
Nasdaq trading symbol: DROOY
("DRDGOLD" or "the company")
DRDGOLD STRIKE ACTION CONTINUES
DRDGOLD said today that wage-related strike action by a total of 4 400 employees
in the National Union of Mineworkers ("NUM") recognition units at the
Blyvooruitzicht Gold Mining Company Limited ("Blyvoor") and Crown Gold
Recoveries Limited ("Crown") operations, which are held by the company`s 74%-
owned subsidiary, DRDGOLD South African Operations (Pty) Limited, has entered
its third week.
Management`s offer of a basic wage increase varying between 4.0% at the East
Rand Proprietary Mines Limited ("ERPM") operation and 15% for certain job
categories at Blyvoor, together with a Blyvoor and Crown gold profit-sharing
scheme, which could add up to a further 8.5%, was rejected by the NUM prior to
the start of strike action. Management`s offer last week to increase the basic
wage offer at Crown from 6.0% to 7.5% was similarly rejected.
The union continues to demand a 13% across-the-board basic wage increase.
Total daily production loss due to the strike action, mainly from Blyvoor`s
labour-intensive underground mining operation, is estimated at approximately 320
ounces of gold a day, worth some R2.4 million at the current Rand gold price.
The impact of the strike on Blyvoor`s surface retreatment operation and on Crown
(which is entirely a surface retreatment operation) has not been significant to
date.
Employees in the NUM recognition unit at ERPM have continued to report for work
as usual.
A Section 189A 60-day consultation process in terms of the Labour Relations Act
to effect retrenchments of redundant positions following the suspension of all
underground operations at ERPM was concluded yesterday. At Blyvoor, a Section
189A 60-day consultation process on right-sizing the operation is continuing.
Randburg
30 September 2009
Sponsor
QuestCo Sponsors
Date: 30/09/2009 15:00:06 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.
| 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. | |||||||||||||
| Other Profile Group sites: FundsData Online (unit trust data) | Profile Group corporate site | |||||||||||||
| [ Terms of Use | Privacy Policy | PAIA manual | FAQs/Help | Site Map | © Copyright Reserved 2026 ] | |||||||||||||
|
|||||||||||||
