DMC 201502180008A
Four year wage agreement signed
DiamondCorp plc
AIM share code: DCP & JSE share code: DMC
ISIN: GB00B183ZC46
(Incorporated in England and Wales)
(Registration number 05400982)
(SA company registration number 2007/031444/10)
("DiamondCorp")
FOUR YEAR WAGE AGREEMENT SIGNED
DiamondCorp, the Southern African diamond development and exploration company, is
pleased to announce that its 74%-owned subsidiary Lace Diamond Mines (Pty) Limited
has signed a four year wage agreement with the Association of Mineworkers and
Construction Union (AMCU) and covering all employees at the Lace diamond mine in the
Free State province of South Africa.
The agreement is based around 8% annual increases in basic salary for most categories,
along with a progressive lift in the lowest categories to R12,500 per month basic salary
over the four year period.
DiamondCorp CEO Mr Paul Loudon said: “This long wage agreement will provide
industrial relations stability at the Lace mine during the critical mine start up years and
demonstrates a solid maturing of relationships between the union and management. We
are particularly pleased to have negotiated a four year agreement rather than the more
common two or three year agreement”.
Contact details:
DiamondCorp plc
Paul Loudon, Chief Executive
Tel: +27 56 216 1300
Euan Worthington, Chairman
Tel: +44 7753 862 097
UK Broker & Nomad
Panmure Gordon (UK) Limited
Dominic Morley/Adam James
Tel: +44 20 7886 2500
18 February 2015
JSE Designated Advisor
Sasfin Capital (a division of Sasfin Bank Limited)
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