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Business Update
PALABORA MINING COMPANY LIMITED
(Incorporated in the Republic of South Africa)
Registration number – 1956/002134/06
JSE Code: PAM ISIN: ZAE000005245
(“Palabora” or “the Company”)
Business Update
Palabora wishes to inform shareholders that 71 people (“Group”) remain in a sit-in in the
underground following the unprotected strike action by mining operations crews on
13 March 2013. They are supported by other striking miners from the underground who
are on surface.
This action by the crews is a significant concern and is in contravention of their
obligations to the Mine’s Policies and the provisions of the Mine Health and Safety Act.
Their extended stay in the underground also has the possibility of compromising their
health and safety.
The Company is grateful for the support from employees who are ensuring that
production in other divisions on the mine continues safely. The Company is committed to
the health and safety of the Group and is focussed on minimising potential damage and
disruption to business.
It is acknowledged that affected families will be extremely concerned about their loved
ones. Since the sit-in commenced, the Company has continuously sought to have the
Group come out of the underground and thereby allow for the discussion of their
concerns. The Company is continuing to receive feedback about their state of health and,
up to now, the necessary sustenance has been provided to the Group underground.
The National Union of Mineworkers (NUM) has been fully involved since the beginning,
and the Department of Mineral Resources (DMR) Inspectors visited the mine on two
occasions to assist on matters of health and safety. The Company is working closely with
them to resolve the situation.
Phalaborwa
18 March 2013
Sponsor
One Capital
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