PETMIN LIMITED - End of industrial action at Petmin's Somkhele anthracite mine
PET 201310250006A
End of industrial action at Petmin's Somkhele anthracite mine
PETMIN LIMITED
Incorporated in the Republic of South Africa
Registration Number 1972/001062/06
Share Code JSE: PET & ISIN: ZAE000076014
("Petmin" or the “Company")
25 October 2013
END OF INDUSTRIAL ACTION AT PETMIN’S SOMKHELE ANTHRACITE MINE
Shareholders are advised that an agreement has been reached to end industrial action at
Petmin’s Somkhele anthracite mine in KwaZulu-Natal.
Negotiations with union representatives resulted in a two year settlement, which was agreed
by workers on Thursday 24 October.
Workers will be returning to work on Monday, 28 October, and mining and processing
activities will return to normal.
The strike lasted 37 days and had a limited impact on production at Somkhele. During the
industrial action, volunteer workers kept Somkhele’s three wash plants running and
shipments of product continued to both domestic and export customers.
Under the terms of a two-year agreement, a wage increase of 8% was agreed for 2013/14 for
Somkhele’s lowest-paid workers, with a further 7.5% increase for 2014/15. Other pay grades
received negotiated increases of 5.5% to 7%.
It was further agreed to create forums in order to improve performance and productivity.
Enquiries:
Petmin
Bradley Doig
+27 11 706 1644
Media
Jonathon Rees
+27 76 185 1827
Johannesburg
25 October 2013
Sponsor and Corporate Advisor
River Group
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