LON - Lonmin Plc - Lonmin Reveals details of wage agreement with unions

LON - Lonmin Plc - Lonmin Reveals details of wage agreement with unions         
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")                              
5 December 2011                                                                 
Lonmin Plc                                                                      
Lonmin Reveals Details of Wage Agreement With Unions                            
Lonmin Plc (Lonmin) is today pleased to release details of the two-year wage    
agreement signed with the National Union of Mineworkers (NUM) last Friday       
evening.                                                                        
In the first year of the agreement, which will be backdated to 1 October 2011,  
employees will receive pay increases and improvements in benefits of up to 10%, 
depending on their job grades. The figures, which will also apply to year two of
the agreement, are in line with industry wage settlements.                      
In addition, also with effect from 1 October 2011, workers who qualify for a    
housing allowance at job grades Category 3 to Category 9 will receive a monthly 
allowance of R1850, rising to R1950 with effect from 1 October 2012. This is an 
increase on the present allowance.                                              
Lonmin also welcomes an agreement to establish a number of working groups to    
examine various issues around conditions and benefits for employees and looks   
forward to working closely with NUM in these areas in future.                   
Barnard Mokwena, Executive Vice President Human Capital & External Affairs,     
said: "This is a good deal for the Company and the unions, and is in line with  
the expectations of the market and industry settlements."                       
Mr Mokwena added: "Negotiations have been positive throughout and have been     
conducted constructively - I`d like to thank all those involved for ensuring a  
fair deal was struck in time for Christmas."                                    
ENDS                                                                            
ENQUIRIES:                                                                      
Investors / Analysts:                                                           
Tanya Chikanza                                    +44 (0) 207 201 6007          
Head of Investor Relations                                                      
Media:                                                                          
Cardew Group                                      +44 (0) 207 930 0777          
James Clark / Alexandra Stoneham                                                
Media South Africa:                                                             
Inzalo Communications                                                           
Gillian Findlay                                        +27 (0) 82 330 1477      
Date: 05/12/2011 09:00:01 Supplied by www.sharenet.co.za                     
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