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LON - Lonmin Plc - Lonmin agrees wage adjustment with NUM

Release Date: 10/09/2008 11:00
Code(s): LON
Wrap Text

LON - Lonmin Plc - Lonmin agrees wage adjustment with NUM 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") 10 September 2008 Lonmin agrees wage adjustment with NUM In October 2007, Lonmin and the National Union of Mineworkers ("NUM") agreed a two year wage agreement for Lonmin`s Marikana operations. In recognition of the unprecedented increases in the levels of inflation in South Africa, Lonmin has agreed to increase the basic wage adjustment in the second year of this agreement to 12.5%. This adjustment is in line with current CPIX levels in South Africa and will take effect from 1 October 2008 for employees in the Marikana category 3 to 9 bargaining unit. Lonmin is pleased to have reached this new agreement with NUM which recognises the increases in the cost of living in South Africa and looks forward to continuing to work with NUM to deliver its operational and transformational objectives. Enquiries: Alex Shorland-Ball +44 (0)207 201 6060 Vice President, Investor Relations & Communications Date: 10/09/2008 11:00:04 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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