Impala Platinum Holdings Limited - Update at Impala
Impala Platinum Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration No. 1957/001979/06)
JSE Share code: IMP
("Implats" or "the company")
Update at Impala
Implats confirms that the work stoppage at its operations on the Impala Lease
Area in North West Province has continued today (20 March 2003).
Discussions with the National Union of Mineworkers ("NUM") have continued
amicably, with NUM leadership having undertaken to discuss issues with their
members today. At a mass meeting this morning, employees were urged to go home
ahead of the long weekend* and to return to the premises on Monday. Large
numbers of employees appear to have done this.
Ultimatums have now been issued to employees to return to work. The company has
applied to the Labour Court for an interdict to support this.
As at the close of business on 20 March 2003, if production at Implats cannot be
made up, then Implats would have lost an effective four days of production at a
rate of approximately 3,700oz of platinum per day or R10m to R15m in
attributable income per day.
* Friday, 21 March 2003 is a public holiday in South Africa.
For further queries:
082 448 2447
082 372 5816
20 March 2003
Issued by Sponsor
Deutsche Securities (Proprietary) Limited