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PETMIN LIMITED - Unprotected strike by contractor employees at Somkhele mine

Release Date: 28/09/2012 15:16
Code(s): PET     PDF:  
Wrap Text
Unprotected strike by contractor employees at Somkhele mine

PETMIN LIMITED
Incorporated in the Republic of South Africa
Registration Number 1972/001062/06
Share Code JSE: PET & ISIN: ZAE000076014
Share Code AIM: PTMN
("Petmin" or "the Company")

Unprotected strike by contractor employees at Somkhele Mine


Shareholders are advised that approximately 345 workers
employed by Sandton Plant Hire (“SPH”), the opencast
contractor at Petmin’s wholly-owned subsidiary, Tendele Coal
Mining (Pty) Limited, the operator of the Somkhele mine in
KwaZulu-Natal, South Africa, have embarked on an unprotected
strike as contemplated in Section 68 of the South African
Labour Relations Act, 66 of 1995.


SPH management is in discussions with striking workers and
union representatives, and has urged workers to return to work
and pursue their grievances through recognised negotiating
channels.


A court interdict has been obtained by SPH declaring the
conduct of the striking workers unlawful, allowing SPH to take
all necessary legal steps required to resolve the situation.
As a result of striking workers not having returned to work by
12h00 Central African Time (11h00 British Standard Time),
today, 28 September 2012, SPH under the interdict obtained may
take disciplinary action against striking workers, which steps
may include dismissal. In addition, contempt of court
proceedings may be brought by SPH.


Somkhele mine management is working with SPH management and
union representatives to find a speedy and amicable solution
that will allow for operations at the mine to return to normal
as soon as possible.
Somkhele Mine has sufficient stock to supply the majority of
its clients for the foreseeable future.


Updates on the unprotected strike action will be released on
the Securities Exchange News Service and to the Regulatory
News Service.


Enquiries:

Petmin
011 706 1644
www.petmin.co.za

Media enquiries
Jonathon Rees +27 76 185 1827
Jonathon@proofcommunication.com

Nominated Adviser and Broker (AIM)
Macquarie Capital (Europe) Limited
Nicholas Harland, Steve Baldwin
+44 20 3037 2369

Sponsor and Corporate Advisor (JSE)
River Group
Andrew Lianos +27 83 4408 365

Johannesburg
28 September 2012

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