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Mine Update 7
NORTHAM PLATINUM LIMITED
Incorporated in the Republic of South Africa
(Registration number 1977/003282/06)
Share code: NHM
Debt issuer code: NHMI
ISIN code: ZAE000030912
Letters of allocation share code: NHMN
Letters of allocation ISIN: ZAE000184164
(Northam Platinum or company)
Mine Update 7
The management of Northam Platinum advises that after a strike of six weeks, at its
Zondereinde operation, by members of the National Union of Mineworkers, NUM’s
demands, in aggregate, remain at an increase of 16% on basic wages. In addition NUM
demands an increase of 69% in the living out allowance.
Northam therefore has informed the CCMA that its final offer of wage increases ranging
between 8% and 9% for non core and core employees in the A and B categories and an 8%
increase in the living out allowance, conditional on a two year wage agreement, remains on
the table.
Northam has further proposed to the CCMA that, in the light of NUM’s intransigent position,
that the CCMA’s mediation process be held in abeyance until the New Year.
Striking employees have lost R74 million in wages.
Northam’s revenue losses to date amount to some R450 million, with expected losses of
R500 million for the year.
Johannesburg
13 December 2013
Sponsor and Debt Sponsor
One Capital
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