Impala Platinum Holdings Limited - Update At Impal20 Mar 2003
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                                                             
LSE: Impla                                                                      
ADRS: Impuy                                                                     
ISIN: ZAE000003554                                                              
("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:                                                            
Ilse Meiring                                                                    
082 448 2447                                                                    
Charmane Russell                                                                
082 372 5816                                                                    
20 March 2003                                                                   
Issued by Sponsor                                                               
Deutsche Securities (Proprietary) Limited