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PETMIN LIMITED - Conclusion of unprotected strike by contractor employees at Somkhele Mine in Kwazulu-Natal

Release Date: 08/10/2012 08:59
Code(s): PET     PDF:  
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Conclusion of unprotected strike by contractor employees at Somkhele Mine in Kwazulu-Natal

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")


Conclusion of unprotected strike by contractor employees at Somkhele mine in KwaZulu-Natal


Further to the announcement by Petmin dated Friday 28 September 2012, shareholders are advised
that operations are returning to normal at the company’s Somkhele anthracite mine in KwaZulu-
Natal in South Africa.


This follows the conclusion of an unprotected strike by approximately 350 workers employed by
Sandton Plant Hire (“SPH”), the opencast contractor at Somkhele.


The unprotected strike, as contemplated in Section 68 of the South African Labour Relations Act, 66
of 1995, started on Tuesday 25 September.


On Friday 5 October, SPH management signed an agreement with union representatives, subject to
approval by SPH employees. Approval of the agreement was secured at a meeting between SPH
employees and their representatives from the NUM and Amcu unions on Sunday 7 October.


The agreement includes restructuring of wage packages, an increase in shift allowances and housing
allowances, and a commitment between all parties to establish a working committee to address
productivity at the Somkhele mine. The pay packages of SPH employees are now similar to those of
workers employed directly by Tendele Coal Mining (“Tendele”), a wholly-owned Petmin subsidiary
which operates the Somkhele mine.


As part of the agreement, SPH employees signed an acknowledgement that the strike was
unprotected and that a final warning letter would be placed on their employee files.
Petmin and Tendele management have expressed their appreciation to union and community
leaders around Somkhele for their role in resolving the unprotected strike, and look forward to a
speedy return to full production.


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
8 October 2012

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