To view the PDF file, sign up for a MySharenet subscription.

HAR - Harmony Gold Mining Company Ltd - Harmony Preparing For Possible Strike

Release Date: 26/07/2011 16:35
Code(s): HAR
Wrap Text

HAR - Harmony Gold Mining Company Ltd - Harmony Preparing For Possible Strike Harmony Gold Mining Company Ltd Incorporated in the Republic of South Africa Registration number: 1950/038232/06 JSE Share code: HAR NYSE Share code: HMY NASDAQ Share code: HMY ISIN: ZAE000015228 PRESS RELEASE HARMONY PREPARING FOR POSSIBLE STRIKE Johannesburg. Tuesday, 26 July 2011. Harmony Gold Mining Company Limited (`Harmony` or `the Company`) announces that following wage negotiations with the trade unions (being the National Union of Mineworkers (NUM), Solidarity and UASA) a deadlock was declared yesterday. The following offer from the Company was rejected by the Unions: Entry level employees: 8.5% Category 5 to 8 employees: 7.5% Miners, artisans and officials: 7% Harmony received a 48-hour strike notice from NUM today, advising that its members will down tools at 18:00 on Thursday, the 28th of July 2011. Graham Briggs, chief executive officer commented: "We have made a reasonable offer to the trade unions, which has been rejected. We are now preparing for a possible strike. This means that operations will be closed, assets will be secured and measures will be taken to ensure that expenditure is kept to a minimum." For more details contact: Graham Briggs Chief Executive Officer +27 83 265 0274 (mobile) Marian van der Walt Executive: Corporate and Investor Relations +27 82 888 1242 (mobile) Corporate Office: Randfontein Office Park P O Box 2 Randfontein South Africa 1760 T +27 11 411 2000 www.harmony.co.za Sponsor: J.P. Morgan Equities Limited Date: 26/07/2011 16:35:19 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.

Share This Story