IMP - Implats - Implats update on Illegal Strike in Rustenburg
Impala Platinum Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration No. 1957/001979/06)
JSE Share Code: IMP
LSE Share Code: IPLA
ADR Code: IMPUY
("Implats" or the "Company")
IMPLATS UPDATE ON ILLEGAL STRIKE IN RUSTENBURG
Implats has previously communicated to shareholders about the illegal work
stoppage at its Rustenburg mine. The strike has now entered its sixth week and
Implats has lost 100,000 Pt oz which is equivalent to a loss of revenue of
around R2 billion.
Implats is working with the Department of Mineral Resources in order to resume
production as soon as practically possible, but it is dependent on operational
turnout of staff. The 15,800 employees who did not join the illegal work
stoppage and the 9,800 who have re-applied for their positions are involved with
mining activities such as cleaning, establishment, critical end development and
making-safe in anticipation of resumption of production. Third party material
deliveries continue to be processed as normal.
Implats and the National Union of Mineworkers are encouraging dismissed
employees to return to work by the deadline of Wednesday, 29 February 2012 for
reinstatement at previous benefits and conditions, after which time normal
recruitment procedures will apply on a first come first served basis.
The financial information in this announcement has not been reviewed and
reported on by the Company`s auditors.
28 February 2012
Sponsor: Deutsche Securities (SA) (Proprietary) Limited
Date: 28/02/2012 17:00:02 Produced by the JSE SENS Department.
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