Anglo American PLC AAL Anglo American update re. Platinum

  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
their absence.



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 
in Rustenburg.



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 
areas."



Further updates will be provided when appropriate.



                     This information is provided by RNS
           The company news service from the London Stock Exchange

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MSCBKPDQNBDDBKK -0- Oct/05/2012 13:46 GMT