DRDGOLD LIMITED - DRDGOLD Strike Ends Announcement

DRDGOLD Strike Ends Announcement

DRDGOLD LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1895/000926/06)
JSE share code: DRD
ISIN: ZAE000058723
Issuer code: DUSM
NYSE trading symbol: DRD
(DRDGOLD or the Company)

DRDGOLD is pleased to announce that it has signed a settlement with the National Union of Mineworkers (NUM) in respect of wages and conditions of employment for 2013 and 2014 
(the Settlement). This brings to an end the two day strike by some 600 employees represented by the NUM at the Companys Ergo operations.

In terms of the Settlement:
- entry-level employees in job categories 4 and 5 will receive a 10% basic wage increase in year one and 8% in year 2; 
- employees in job categories 6 and 7 will receive 9% in year 1 and 7.5% in year 2; and 
- employees in job categories 8 to 15 will receive 8% in year 1 and 7.5% in year 2.

The effect of the implementation of the Settlement will be an 8.84% increase in the Companys annual wage bill, amounting to approximately R21 million per annum. 

Niël Pretorius, CEO of DRDGOLD, said: The higher increases at the lower end could be accommodated within budget parameters by tapering increases for middle and senior management 
for the 2014 calendar year.

Employees who have been on strike have started to return to work at the start of the night shift on 9 October 2013. It is not anticipated that the strike will have had any material 
effect on production.

Roodepoort
10 October 2013

Sponsor
One Capital

 


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