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NORTHAM PLATINUM LIMITED - Zondereinde Mine Update 5

Release Date: 18/11/2013 07:30
Code(s): NHM001 NHM     PDF:  
Wrap Text
Zondereinde Mine Update 5

NORTHAM PLATINUM LIMITED
Incorporated in the Republic of South Africa
(Registration number 1977/003282/06)
 Share issuer code: NHM
 Debt issuer code: NHMI
 ISIN code: ZAE000030912
(“Northam” or “the company”)


        Zondereinde mine update 5

The management of Northam advises that the talks held at the Commission for Conciliation,
Mediation and Arbitration (CCMA) on Friday 15 November 2013 to resolve the current impasse
between the National Union of Mineworkers (NUM) and the management of the Zondereinde
division of the company were inconclusive.

The company’s offer of a 9% increase for core and 8% for non-core employees, and an 8% increase in
the living out allowance, remains unchanged. This offer, made on 5 November, is inclusive of a 0.5%
service increment.

The NUM’s demands remain as follows for category 2-8 employees (A and B band employees)

    -   An increase for non-core employees of R2 000 on basic wages (equivalent to 22% - 42% at
        the lowest levels);

    -   An increase for core employees of R2 100 on basic wages (equivalent to 23% - 43% at the
        lowest level);

    -   The living out allowance to be increased by 69% from R2 200 to R3 718 monthly staggered in
        two tranches over six months.

    -   No multi-year agreement.

Northam has indicated its willingness to continue with facilitated talks, and is encouraged by the
NUM’s positive reaction to further discussions.


Johannesburg
18 November 2013

Sponsor and Debt Sponsor
One Capital

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