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LONMIN PLC - Marikana Agreement Signed

Release Date: 19/09/2012 07:05
Code(s): LON     PDF:  
Wrap Text
Marikana Agreement Signed

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")


Marikana Agreement Signed

Following an all-inclusive negotiation process involving trade unions and delegates of striking
employees, Lonmin is pleased to announce that it has reached a settlement and a return to work has
been agreed for Thursday (20th September).

The agreement was signed in Rustenburg at 22.30 this evening (September 18th). The agreement
includes a signing bonus of R2,000 and an average rise in wages of between 11 and 22% for all
employees falling within the Category 3-8 bargaining units , effective from 1 October 2012. This
includes the previously agreed 9-10% rises for these employees due to come into effect in October
2012. It also addresses issues of promotion for some categories of workers as well as other
allowances.

The Company will update the Market on the wider implications of the agreement, including its
financial impact in due course.

Lonmin wishes to thank all those who have played their part in helping deliver this agreement: all
the unions involved, the delegate of striking employees, the Commission for Conciliation Mediation
and Arbitration, the Government of The Republic of South Africa, and both traditional and religious
leaders.

Acting Chief Executive Simon Scott said: “These have been difficult and tragic weeks for everyone
involved with the Company, the communities living around our operations and the South African
nation as a whole. Tonight’s agreement and the subsequent return to work is only one step in a long
and difficult process which lies ahead for everyone who has been affected by the events at
Marikana, but it is essential in helping secure the futures of our tens of thousands of employees and
all those who rely on Lonmin in the region.”

- ENDS -

GENERAL MEDIA ADDRESS:
media@lonmin.com
+27 (0)14 571 2060/2055

ENQUIRIES
Investors / Analysts:
Lonmin
Tanya Chikanza (Head of Investor Relations)
+27 (0)11 218 8358 / +44 (0)7825 877 934
Media:
Cardew Group – London
James Clark / Emma Crawshaw
+44 (0)20 7930 0777
Sue Vey
+27 (0)72 644 9777

Sponsor:
J.P. Morgan Equities Limited

About Lonmin:
Lonmin, which is listed on both the London Stock Exchange and the Johannesburg Stock Exchange, is
one of the world’s largest primary producers of Platinum Group Metals (PGMs). These metals are
essential for many industrial applications, especially catalytic converters for internal combustion
engine emissions, as well as their widespread use in jewellery.

Lonmin’s operations are situated in the Bushveld Complex in South Africa, where nearly 80% of
global PGM resources are found.

The Company creates value for shareholders through mining, refining and marketing PGMs and has
a vertically integrated operational structure – from mine to market. Lonmin’s mining operations
extract ore from which the Process Division produces refined PGMs for delivery to customers.
Underpinning the operations is the Shared Services function which provides high quality levels of
support and infrastructure across the operations.

For further information please visit our website: http://www.lonmin.com

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