PETMIN LIMITED - Industrial action continues at Somkhele Anthracite Mine

Release Date: 27/09/2013 15:30
Code(s): PET
 
Wrap Text
Industrial action continues at Somkhele Anthracite Mine

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")

27 September 2013



INDUSTRIAL ACTION CONTINUES AT SOMKHELE ANTHRACITE MINE


Shareholders are advised that industrial action has continued at the Somkhele anthracite mine
in KwaZulu-Natal.


Approximately 100 workers employed on Somkhele’s three wash plants by mine operator
Tendele Coal Mining (Tendele) have been on strike for ten days, following failure to achieve
a settlement in negotiations over wages and employee benefits.


On Thursday 26 September, about 320 workers employed by Tendele’s mining joint venture
also began industrial action.


For the past ten days, mining has continued at Somkhele and contingency plans have enabled
the operation of the wash plants and shipment of product to domestic and export customers.


Mining operations and operation of the wash plants were suspended on Thursday 26
September and will resume on Monday 30 September. Deliveries of product from stockpiles
will continue over the weekend.


Police are monitoring the situation at Somkhele. Tendele management has been granted a
court interdict to ensure industrial action is conducted in a legal manner.


Management is negotiating with labour representatives and hopes to resolve the industrial
action with a settlement acceptable to all parties.
Management has urged all workers and the wider community to recognise the impact and
benefits of the Somkhele mine, and to ensure that strike action is conducted in a peaceful
manner.


Updates on the industrial action at Somkhele will be released on the Securities Exchange
News Service and to the Regulatory News Service.


Enquiries:


Petmin
Bradley Doig
+27 11 706 1644


Media
Jonathon Rees
+27 76 185 1827


Sponsor and Corporate Advisor (JSE)
River Group
Andrew Lianos
+27 834 408 365


Nominated Adviser and Broker (AIM)
Macquarie Capital (Europe) Limited
Steve Baldwin, Nicholas Harland
+44 20 3037 2000


Johannesburg
27 September 2013

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