ARI - African Rainbow Minerals Limited - Update on Modikwa Platinum Mine
ARI
ARIM
ARI - African Rainbow Minerals Limited - Update on Modikwa Platinum Mine
strike
African Rainbow Minerals Limited
(Incorporated in the Republic of South Africa)
(Registration number 1933/004580/06)
JSE Share code: ARI
ISIN: ZAE000054045
Update on Modikwa Platinum Mine strike
Following a three week protected strike, Modikwa Platinum Mine (the
"Mine") announces that the protracted collective bargaining process with
the National Union of Mineworkers ("NUM"), spanning several months, has
not produced any agreement.
The dispute concerns wages and conditions of employment. At a meeting
held on Tuesday, 3 April 2012, NUM rejected the Mine`s final offer. The
Mine has thus withdrawn its final offer. NUM made other demands that the
Mine simply cannot afford. The strike and the collective bargaining
process have failed the parties. The Mine has no option but to withdraw
from the negotiation process.
Striking employees are at liberty to return to work on their existing
conditions of service.
ENDS
For more information please contact:
Jongisa Klaas
Corporate Development and Head of Investor Relations
Tel: +27 11 779 1507
Mobile: +27 82 562 5288
E-mail: jongisa.klaas@arm.co.za
Corne Dippenaar
Corporate Development
Tel: +27 11 779 1478
Mobile: +27 83 380 6614
E-mail: corne.dippenaar@arm.co.za
Johannesburg
4 April 2012
Issued by sponsor: Deutsche Securities (SA) (Proprietary) Limited
Date: 04/04/2012 10:16:01 Produced by the JSE SENS Department.
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