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GDO
GDO
GDO - Gold One International Limited - Wage negotiation 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
ISIN: AU000000GDO5
OTCQX International: GLDZY
Share code on the ASX/JSE: GDO
("Gold One" or the "company")
WAGE NEGOTIATION UPDATE
Gold One refers to the announcements issued on 16 March 2010 and 19 March 2010
and advises that company employees in categories A and B (`striking employees`)
are continuing with industrial action which commenced on 23 March 2010. The
majority of the striking employees are semi-skilled employees represented by the
National Union of Mineworkers (`NUM`) and comprise approximately 80% of the
company`s 1000 employees.
As previously announced, an impasse between the company and the NUM on reaching
agreement on wages for the company`s unionised workforce has led to the
protected strike. A policy of "no work-no pay" will continue to apply for the
duration of the industrial action. Wage increases for employees outside of the
NUM bargaining unit have in the interim been implemented. Production at the
company`s Modder East mine (`Modder East`) continues at approximately 500 tons
of ore per day - amounting to around 50% of normal daily volume - primarily from
on reef development. Morale on site remains high.
The majority of Gold One`s employees at Modder East have been recruited from the
local East Rand communities and are not migrant workers as alleged by the NUM.
In addition there are no dwellings on or in the immediate vicinity of Modder
East other than in existing settlements which existed prior to the establishment
of Modder East.
Shareholders are advised that the impasse may continue for some time as the
difference between the wage increase offer tabled by the company and the demands
of the striking employees are still significant.
Issued by Gold One International Limited
Website: www.gold1.co.za
6 April 2010
For further information contact:
Neal Froneman Ilja Graulich Carol Smith
President and CEO VP: Corporate Affairs Investor Relations
+27 11 726 1047 +27 11 726 1047 +27 11 726 1047
(office) (office) (office)
+27 83 628 0226 +27 83 604 0820 +27 82 338 2228
(mobile) (mobile) (mobile)
neal.froneman@gold1.co. ilja.graulich@gold1.co. carol.smith@gold1.co.za
za za
JSE 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 Stock 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
East 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: 06/04/2010 07:05:05 Produced by the JSE SENS Department.
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