Implats Labour Relations Update
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 LABOUR RELATIONS UPDATE
Implats is in the process of informing all stakeholders that
the Company has received a wage demand from the Interim
Workers Committee (IWC) at Impala Rustenburg.
At the end of April 2012 a wage increase was implemented which
formed part of the settlement following the industrial action
that was concluded during early March 2012.
Despite clear commitments from all parties to uphold the
settlement, the IWC has now demanded that the Company
implement the same increase again for the second year of the
2011/12 wage agreement. These increases have already been
implemented and were brought forward by a period of two months
to April 2012 as a gesture of goodwill.
Implats CEO, Terence Goodlace, commented, “Should this
implementation be effected as per the demand, this would
equate to a double increase within a period of six months.”
In a meeting with the IWC, the Company yesterday proposed a
process of open mediated dialogue with all stakeholders to
find a sustainable resolution as quickly as possible. At the
meeting, the Company also offered to conduct a full wage
review to commence as early as possible to ensure that all
stakeholders’ demands are considered and discussed in detail.
Mr Goodlace added, “Our overriding imperative in this process
is to ensure peace, order and stability. We believe that
current tensions are an issue for the entire industry.
Profitability margins continue to remain under severe pressure
with consequences for all concerned. We are therefore actively
engaging all stakeholders at the highest level as a
sustainable solution can only be delivered through the
collaborative efforts of all parties, at all levels.”
Stakeholders will be kept informed as the process evolves.
11 September 2012
Deutsche Securities (SA) (Proprietary) Limited
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