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AngloAmerican re AngloPlatinum
Anglo American plc (“the Company”)
Incorporated in the United Kingdom
(Registration number: 3564138)
Short name: Anglo
Share code: AGL
ISIN number: GB00B1XZS820
15 November 2012
Anglo American update re. Anglo American Platinum
Anglo American plc draws attention to an announcement issued by Anglo American Platinum
Limited, the text of which is set out below:
Anglo American Platinum’s staff return to work
Anglo American Platinum confirms that its Rustenburg, Union and Amandelbult employees
have accepted the terms of the Company’s offer and have returned to work this morning.
Management has put in place a reintegration programme, which will include Safe-Start training
and medical examinations. As these operations have been idle for two months it is important to
ensure that activities are carried out to ensure that working places are made safe. In the
interests of the safety and health of our employees, these activities must be carried out before
employees can be allowed to begin operations. Once operations have started safely,
production ramp up will begin. It is therefore anticipated that there will be no production from
these operations for the coming week.
The offer, which will be applied to all employees in the bargaining unit and will benefit
approximately 48 000 employees, included the following elements:
- the reinstatement of all the dismissed Rustenburg employees;
- a once off allowance of R4500 (pre-tax) payable in two tranches: the first payment of
R2000 hardship allowance to be paid two days after employees have returned to work;
and the second payment of R2500 being a safe start-up allowance to be paid two
weeks after employees have returned to work and have commenced actual work;
- a monthly allowance of R400 (pre-tax) which will be added to base salaries; and
- an undertaking by management to re-open wage negotiations early, recognising that
any agreements reached would be implemented in July 2013 in order to maintain the
wage negotiation cycle.
The illegal strike action began in mid-September 2012 and has had a significant financial
impact on the Company. To date, the Company has lost 191 359 ounces of platinum
production from own mines. Anglo American Platinum has repeatedly stated that the
Rustenburg operations were under considerable economic pressure and the strike action was
exacerbating that pressure and affecting the viability of these operations.
Chris Griffith, CEO of Anglo American Platinum, said: “We are very pleased to welcome our
employees back to work and will work swiftly to ensure that real work and safe production begin
as quickly as possible. We would like to acknowledge the contribution and support of all our
stakeholders who worked tirelessly with us to enable the return to work of our employees. We
are saddened that two of our colleagues are not here to mark this day with us. We recognise
that we will need to spend the time rebuilding relationships with our employees as we continue
building a sustainable company for all our stakeholders”
Further updates will be provided as appropriate.
Sponsor: UBS South Africa (Pty) Ltd
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