Anglo American PLC (AAL) - Anglo American update re. Platinum
RNS Number : 0780O
Anglo American PLC
05 October 2012
5 October 2012
Anglo American update re. Anglo American Platinum
Anglo American plc draws attention to an announcement issued by Anglo American
Platinum Limited, the text of which is set out below:
Anglo American Platinum update
Anglo American Platinum Limited ("Anglo American Platinum") is providing an
update on the ongoing illegal industrial action around its Rustenburg mining
operations. It has been three weeks since the initial safety suspension and
the subsequent industrial action by employees in the Rustenburg area.
Despite the company's repeated calls for employees to return to work, we have
continued to experience attendance levels of less than 20%. Currently four of
the company's mining operations in the Rustenburg area have insufficient staff
to operate and only essential services are being carried out at those mines.
Our Rustenburg concentrators, smelters and refineries and Bathopele Mine
continue to operate normally.
Disciplinary hearings for striking Rustenburg mine employees have been
completed and affected employees will be informed of the outcome of the
hearings today. Those employees will have three working days to appeal the
outcome. Approximately 12,000 striking employees chose not to make
representations, nor attend the hearings, and have therefore been dismissed in
Anglo American Platinum also confirms that the company has begun to experience
strike contagion at its Union and Amandelbult (Tumela and Dishaba) operations,
where workers have presented memorandums of demands similar to those received
The Union and Amandelbult Mines, including Mortimer Smelter, are not in
operation due to insufficient attendance.
Anglo American Platinum confirms that as a result of the illegal industrial
action of its employees and the initial safety suspension, total lost platinum
production has amounted to 39,000 ounces, resulting in approximately R700
million of lost revenue.
Chris Griffith, Anglo American Platinum CEO, says: "The Company is committed
to participating in the Platinum centralised engagement structures driven by
the Chamber of Mines, as well as exploring the possibility of bringing forward
wage negotiations within our current agreements."
Anglo American Platinum continues to work with the local authorities and other
stakeholders to support the restoration of law and order to the affected
Further updates will be provided when appropriate.
This information is provided by RNS
The company news service from the London Stock Exchange
MSCBKPDQNBDDBKK -0- Oct/05/2012 13:46 GMT
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