EXX - Exxaro Resources Limited - Exxaro granted temporary interdict on strike
EXXARO RESOURCES LIMITED
Incorporated in the Republic of South Africa
(Registration Number: 2000/011076/06)
JSE share code: EXX
ISIN code: ZAE000084992
ADR code: EXXAY
EXXARO GRANTED TEMPORARY INTERDICT ON STRIKE
Exxaro Resources Limited (Exxaro) advises stakeholders that it has today been
granted a temporary interdict from the Labour Court declaring the strike
action against the group`s operations unprotected and restraining employees
from participating in such a strike.
This follows a strike notice being issued by the National Union of Mineworkers
earlier this week informing that the union intends starting strike action at
Exxaro operations from Monday 13 June 2011.
The strike action follows a dispute declared by the union regarding Exxaro`s
restructuring plans. The parties met at the CCMA for conciliation last week,
however, the matter remained unresolved.
Exxaro submitted that it has exceeded the requirements of the Labour Relations
Act, including engaging in extensive consultation with unions.
The court decision is being communicated to NUM representatives today.
Exxaro has previously communicated to stakeholders that it is restructuring
parts of the group to improve productivity, reduce cost of services and
operations, and streamline its organisational structures.
The proposed restructure could lead to about 250 retrenchments but the group
is doing everything possible to limit the impact on employees and all options
will be examined.
The strike action involves all Exxaro operations except the Zincor and Rosh
Pinah operations which are not included in the restructuring scope.
Contingency plans are in place to avoid or limit potential disruptions to
production and product supply and Exxaro will keep stakeholders informed when
Exxaro remains open to engaging with organised labour to address matters of
concern relating to the implementation of the restructuring.
A return date for having the temporary interdict confirmed has been set for 31
Exxaro is a diversified resources group with interests in the coal, mineral
sands, base metals, industrial minerals and iron ore commodities.
Wim de Klerk
Tel: + 27 12 307 3173
Mobile: +27 82 652 5145
10 June 2011
Deutsche Securities (SA) (Proprietary) Limited
Date: 10/06/2011 17:30:01 Supplied by www.sharenet.co.za
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