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Anglo American Platinum update
ANGLO AMERICAN PLATINUM LIMITED
Incorporated in the Republic of South Africa
Registration number 1946/022452/06
Share code: AMS
ISIN: ZAE000013181
(“Anglo American Platinum” or “the company”)
ANGLO AMERICAN PLATINUM UPDATE
Anglo American Platinum is providing an update on the ongoing
illegal industrial action around its Rustenburg, Union and
Amandelbult mining operations. It has been four weeks since the
initial safety suspension and the subsequent industrial action by
employees in the Rustenburg area.
Despite the company’s repeated calls for employees to return to
work, attendance levels have remained below 20%. Currently, most
of the company’s mining and processing operations in the north of
Rustenburg have insufficient staff to operate safely and continue
to carry out essential services only.
On Friday 5 October, Anglo American Platinum announced that 12,000
of its striking employees in the Rustenburg area had been
dismissed due to non-attendance and non-representation at the
disciplinary hearings. These employees were given three days to
appeal the decision and a subsequent extension was provided to
enable employees who still wished to appeal, the opportunity to do
so. The extension ends at the close of business today.
Disciplinary hearings at Union Mine have now concluded and
employees will be advised of the outcomes in due course. Employees
at Amandelbult Mine (Tumela/Dishaba), who have been engaged in
illegal strike action since Wednesday 3 October, have been making
representations since Thursday 11 October, and in line with the
process carried out at Rustenburg, employees will have the
opportunity to appeal.
Anglo American Platinum confirms that as a result of the illegal
industrial action of its employees and the initial safety
suspension, total lost platinum production has amounted to
67,000 ounces, resulting in approximately R1.1 billion of lost
revenue. The average loss of platinum production is 3,800 ounces
per day.
The ongoing illegal strike by Anglo American Platinum employees
will adversely affect the company’s delivery obligations regarding
the supply of Chrome ore and as a result force majeure notices
have been issued to its chrome customers. The company’s ability to
deliver Platinum Group Metals (PGMs) and base metals however
remains unaffected at this stage.
Chris Griffith, Anglo American Platinum CEO says: “We are calling
for calm in those affected areas and continue to work closely with
our tripartite partners – government and the recognised labour
unions – to help restore law and order to the affected areas. Our
commitment to the Platinum centralised engagement structures,
driven by the Chamber of Mines, has not changed and, as we have
mentioned, we are considering the possibility of bringing forward
wage negotiations that are within our current arrangements.”
Further updates will be provided when appropriate.
For further information, please contact:
Media:
Mpumi Sithole
Tel: +27 (0)14 591 3741
mpumi.sithole@angloamerican.com
Investors:
Kgapu Mphahlele
+27 (0) 11 373 6239
kgapu.mphahlele@angloamerican.com
Notes to editors:
Anglo American Platinum Limited is a member of the Anglo American
plc Group and is the world’s leading primary producer of platinum
group metals. The company is listed on the Johannesburg Securities
Exchange (JSE). Its mining, smelting and refining operations are
based in South Africa. Elsewhere in the world, the Group owns Unki
Platinum Mine in Zimbabwe and is actively exploring in Brazil.
Anglo American Platinum has a number of joint ventures with
several historically disadvantaged South African consortia as part
of its commitment to the transformation of the mining industry.
Anglo American Platinum is committed to the highest standards of
safety and continues to make meaningful and sustainable difference
in the development of the communities around its operations.
www.angloamericanplatinum.com
Anglo American is one of the world’s largest mining companies, is
headquartered in the UK and listed on the London and Johannesburg
stock exchanges. Anglo American’s portfolio of mining businesses
spans bulk commodities – iron ore and manganese, metallurgical
coal and thermal coal; base metals – copper and nickel; and
precious metals and minerals – in which it is a global leader in
both platinum and diamonds. Anglo American is committed to the
highest standards of safety and responsibility across all its
businesses and geographies and to making a sustainable difference
in the development of the communities around its operations. The
company’s mining operations, extensive pipeline of growth projects
and exploration activities span Southern Africa, South America,
Australia, North America, Asia and Europe. www.angloamerican.com
Johannesburg
12 October 2012
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
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