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LON - Lonmin - Industrial action at Marikana Operations

Release Date: 21/08/2007 16:22
Code(s): LON
Wrap Text

LON - Lonmin - Industrial action at Marikana Operations Lonmin Plc (Incorporated in England and Wales) (Registered in the Republic of South Africa under registration number 1969/000015/10) JSE code: LON Issuer Code: LOLMI & ISIN: GB0031192486 ("Lonmin") 21 August 2007 Industrial action at Marikana Operations Lonmin announces that the National Union of Mineworkers (NUM) commenced an unprotected strike action at the Group`s Marikana operations on Sunday evening, in contravention of a court order. NUM has declared a dispute with Lonmin in relation to the implementation of the SAP payroll system across the Group`s operations. The SAP implementation at the Group`s operations was a strategic decision required to modernize the Group`s reporting systems. Lonmin is committed to resolving issues with NUM that have negatively impacted employees as a result of the implementation and regrets the local branches` decision to engage in this unprotected activity. The impact on our production and sales for the full year to 30 September 2007 and 2008 will be reviewed once this dispute is resolved. The loss of one day`s production from Marikana equates to around 3,400 Platinum ounces. Enquiries: Alex Shorland-Ball +44 (0)20 7201 6060 Vice President, Investor Relations & Communications Date: 21/08/2007 16:22:42 Supplied by www.sharenet.co.za Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.

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