Breaking News

Sulzer Confirms Merger Talks With Dresser-Rand
Tweet TWEET

Anglo American PLC AAL Anglo American update re. Platinum

  Anglo American PLC (AAL) - Anglo American update re. Platinum

RNS Number : 0878Q
Anglo American PLC
01 November 2012




        


01 November 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,  Union 
and Amandelbult mining operations. It has  been seven weeks since the  initial 
safety suspension and the subsequent illegal industrial action by employees.



Anglo American  Platinum announced  on 18  October that  it had  entered  into 
discussions with its recognised  unions, NUM, UASA and  NUMSA, and the  strike 
committee to explore  options to facilitate  the return to  work of  employees 
currently involved  in  illegal  strike  action. The  status  of  the  12  000 
dismissed Rustenburg employees formed part of these discussions, which did not
include any wage negotiations.



As a result of these discussions, Anglo American Platinum announced on  Monday 
29 October  its offer  to  facilitate the  return to  work  of the  Union  and 
Amandelbult employees  and  to  reinstate  all  12  000  dismissed  Rustenburg 
employees. The offer was strictly subject to all striking employees  returning 
to work and doing actual work activities  by no later than Tuesday 30  October 
2012.



Anglo American Platinum confirms that this offer has not yet been accepted  by 
employees.



Disciplinary hearings for  Amandelbult and  Union Mine  employees engaging  in 
illegal strike action are already underway  and the outcome will be  announced 
in due course.



The company currently does  not have sufficient staff  for safe operations  in 
the affected areas and continues to carry out essential services only.



Anglo American Platinum confirms that it is losing an average of 3, 694 ounces
of platinum per day and to date 141,640 ounces of platinum have been lost.



Anglo American Platinum  also notes the  reports of 123  arrests made by  SAPS 
since the illegal strike action and  following the violence in the  Rustenburg 
area and can  confirm that 36  of those arrested  are Anglo American  Platinum 
employees.



The CEO  of  Anglo American  Platinum,  Chris  Griffith said'  "We  have  been 
patiently appealing to our workers to get  back to work so that the  situation 
in Rustenburg and  the north  of Pilanesburg  can go  back to  normal. We  are 
disappointed that the offer, which was made to employees to alleviate some  of 
the hardship as a  result of the  no-work no-pay principle,  has not yet  been 
accepted. We are appealing for calm in Rustenburg communities and continue  to 
work with SAPS to help restore law and order to the area.



Further updates will be provided as appropriate.



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

END


MSCBKDDNKBDDKDK -0- Nov/01/2012 10:31 GMT
 
Press spacebar to pause and continue. Press esc to stop.