| Thu 27 Oct 2011, 8:00 | | RBP - Royal Bafokeng Platinum Limited - Update on industrial action at RBPLAT`s |
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RBP
RBP
RBP - Royal Bafokeng Platinum Limited - Update on industrial action at RBPLAT`s
Bafokeng Rasimone Platinum Mine
ROYAL BAFOKENG PLATINUM LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2008/015696/06)
JSE share code: RBP ISIN: ZAE000149936
("RBPlat" or the "Company")
UPDATE ON INDUSTRIAL ACTION AT RBPLAT`S BAFOKENG RASIMONE PLATINUM MINE ("BRPM")
Shareholders are referred to the announcement released on the Securities
Exchange News Service of JSE Limited on Friday, 21 October 2011, relating to the
protected industrial action by members of the National Union of Mine Workers
employed by JIC Mining Services ("JIC") ("Contract miners"), the service
provider that is contracted to provide mining services to the Company.
RBPlat hereby advises shareholders that the Company has been informed by the
service provider, namely, JIC on Thursday, 26 October 2011, that JIC and its
Contract miners settled on a two year wage agreement thereby ending the
protected industrial action. It is anticipated that production at BRPM will
return to normal by Monday, 31 October 2011.
The estimated loss of production due to the Contract miners` industrial action
is projected to be 34,350 tonnes with a resulting loss of 3,920 4E ounces.
RBPlat is considering various measures to mitigate the risk of future disputes
between contract miners and their employers.
Johannesburg 27 October 2011
JSE Sponsor
Macquarie First South Capital (Pty) Limited
For further enquiries, please contact:
Lindiwe Montshiwagae
Investor Relations Manager
Tel: +27 (0)10 590 4517
Mobile: +27 (0)82 920 7803
Date: 27/10/2011 08:00:45 Produced by the JSE SENS Department.
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