| Tue 16 Mar 2010, 16:45 | | GDO - Gold One International Limited - Wage Negotiations Update |
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GDO
GDO
GDO - Gold One International Limited - Wage Negotiations Update
Gold One International Limited
(Previously BMA Gold Limited)
Registered in Western Australia under the Corporations Act, 2001 (Cth)
Registration number ACN: 094 265 746
Registered as an external company in the Republic of South Africa
Registration number: 2009/000032/10
Share code on the ASX/JSE: GDO
ISIN: AU000000GDO5
OTCQX International: GLDZY
("Gold One" or the "company")
Wage Negotiations Update
- Wage negotiations have temporarily deadlocked
- Commission for Conciliation Mediation and Arbitration ("CCMA") has issued
the National Union of Mine Workers ("NUM") with a strike certificate
- NUM is obliged to give Gold One at least 48 hours notice of the
commencement of any industrial action
- `No work - no pay` rule will apply during any industrial action
- Contingency plans in place to manage the impact of any industrial action
Gold One (ASX/JSE: GDO) advises that wage negotiations with NUM, the union
representing the majority of the company`s one thousand workers, have
temporarily deadlocked and that the possibility of strike action at the
company`s South African operations cannot be discounted.
Following the declaration of a dispute between the company and NUM, after no
agreement could be reached on substantive conditions of employment for 2010
including basic salary demands, the dispute was referred to the CCMA, a body
established to mediate labour disputes under South African law.
Notwithstanding the intervention of the CCMA, the parties have been unable to
resolve their differences and on Tuesday, 16 March 2010 and at the request of
NUM, the CCMA issued a certificate stating that the dispute remains unresolved.
In the case of a proposed strike, a minimum of forty eight hours notice of the
commencement of the strike must be given to the company failing which it will
not be regarded as a protected strike. To date, no such notice has been
received. Whilst the company cannot dismiss workers who have embarked on a
protected strike, it can implement a policy of `no work - no pay`.
Gold One management has contingency plans in place to manage the impact of a
possible strike.
Negotiations to date have taken place in good spirit and the relationship
between Gold One and NUM remains positive.
Issued by Gold One International Limited
Website: www.gold1.co.za
16 March 2010
For further information contact:
Neal Froneman Ilja Graulich Carol Smith
President and CEO VP: Corporate Affairs Investor Relations
+27 11 726 1047 (office) +27 11 726 1047 (office) +27 11 726 1047
(office)
+27 83 628 0226 (mobile) +27 83 604 0820 (mobile) +27 82 338 2228
(mobile)
neal.froneman@gold1.co.za ilja.graulich@gold1.co.za carol.smith@gold1.co.za
Sponsor
Macquarie First South Advisers (Pty) Limited
About Gold One:
Gold One International Limited is a gold producer listed on the financial
markets operated by ASX Limited (the Australian Securities Exchange) and JSE
Limited (the Johannesburg Securities Exchange) (issuer code GDO). Its flagship
operation is the newly built shallow Modder East mine on the East Rand, some 30
kilometres from Johannesburg; Gold One also owns the nearby existing Sub Nigel
mine, which is used primarily as a training centre in the build-up of the Modder
mine to full production. Its other projects and targets include Ventersburg and
Bothaville, both in the Free State goldfields, the Tulo concession in Mozambique
and the Etendeka greenfields project in Namibia. Gold One has an issued share
capital of 805`239`940 shares.
Date: 16/03/2010 16:45:02 Produced by the JSE SENS Department.
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