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ANGLO AMERICAN PLAT LTD - Anglo American Platinum strike update

Release Date: 27/09/2013 13:34
Code(s): AMS     PDF:  
Wrap Text
Anglo American Platinum strike update

ANGLO AMERICAN PLATINUM LIMITED
Incorporated in the Republic of South Africa
Registration number 1946/022452/06
Share code: AMS
ISIN: ZAE000013181
(“the Company”)

Anglo American Platinum strike update

Anglo American Platinum Limited (“Anglo American Platinum or the Company”) is providing an
update in respect of its Rustenburg and the North of the Pilanesburg operations following the
notice to strike received from AMCU on 23 September 2013. AMCU notified the Company that
its members would commence with strike action from Friday, 27 September 2013 in opposition
to the retrenchment notices issued by the Company.

In January 2013, the Company announced its proposals to create a sustainable, competitive
and profitable platinum business for the long term benefit of all its stakeholders. Following the
announcement of its proposals, the Company engaged in extensive consultations with its
recognised unions which saw a very significant reduction in the number of impacted employees
from 14, 000 originally proposed to approximately 6000.

Retrenchment avoidance measures like redeployment into vacancies across the group,
voluntary severance separation and early retirements have resulted in the number of
employees to be retrenched coming down to 3,300.

Anglo American Platinum has been actively working with key stakeholders to co-create a Social
Impact Mitigation Plan (SIMP) to reduce impact to the retrenched employees.

The Company confirms that it’s AMCU affiliated employees in Rustenburg and the North of the
Pilanesburg have embarked on a legal strike and is reporting a less than 20% attendance
throughout its Rustenburg and the North of the Pilanesburg mining operations. All the
Company’s Process operations are operating normally. Production will be impacted by the
strike action although sales will not be impacted at this point.

Anglo American Platinum is monitoring the situation and working closely with local authorities to
ensure that there is peace and stability during the strike. The Company has engaged AMCU on
the picketing rules to ensure a peaceful strike action. The Company confirms that the strike is
legal for AMCU affiliated employees only and not for NUM, NUMSA and UASA members. The
no-work no-pay principle will apply to employees who are not back at work by the next shift.

Chris Griffith, Anglo American Platinum CEO, said “We have previously stated that the
Company is under tremendous economic pressure. Strikes and work stoppages will result in
further losses that will hamper plans for future sustainability and further threaten the future of
our 45 000 employees. We will continue to engage with AMCU through the established
channels to try and return the business to normality”.

27 September 2013
Merchant bank and sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)


For further information, please contact:

Media:
Mpumi Sithole
Tel: +27 (0)14 591 1792
mpumi.sithole@angloamerican.com

Investors:
Leng Lau
Tel: +4420 7968 8540
leng.lau@angloamerican.com

Emma Chapman
Tel: +44 20 7968 8451
Emma.chapman@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

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