IMP - Impala Platinum Holdings Limited - Wage Negotiation 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
WAGE NEGOTIATION UPDATE
Implats and the National Union of Mineworkers (NUM) have met on several
occasions to resolve the current wage dispute and strike action. Some of the
NUM branches have accepted the current offer and have returned to work.
Implats wishes to place on record the details of the current offer to the NUM.
A-level 10% increase
B-level 10% increase
C-level 10% increase
2. NEW MINIMUM WAGE
A3 Underground R5000
A3 Surface R4573
3. MEDICAL SUBSIDY
Principal Member Increase from R265 to R300
1st Dependant Increase from R165 to R200
Other Dependants Increase from R110 to R120
A task team will be created to investigate transport issues and come up with
A task team will be established to investigate alternative funding models to
make home ownership more accessible.
Employees have been asked to note the following principles which will be applied
during the entire strike period:
- No work no pay.
Disciplinary action will be taken against individuals guilty of intimidation,
violence and property damage.
The Recognition Agreement regarding Essential Services remains in place and
employees in this area are urged to comply with this agreement.
The company reserves the right to "lock-out" employees during this period.
Implats believes that in light of the current economic situation, other recent
settlements, and the decline in CPI to 6.7%, that this is a fair and reasonable
offer. Furthermore, D and E level employees have accepted a 0% increase in an
effort to contain costs and preserve jobs.
Further announcements will be made in due course.
2 September 2009
Issued by sponsor: Deutsche Securities (SA) (Proprietary) Limited
Date: 02/09/2009 15:30:02 Produced by the JSE SENS Department.
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