Wrap Text
Update on Protected Strike Action
ANGLO AMERICAN PLATINUM LIMITED
Incorporated in the Republic of South Africa
Registration number 1946/022452/06
Share code: AMS
ISIN: ZAE000013181
25 April 2014
NEWS RELEASE
UPDATE ON PROTECTED STRIKE ACTION
The following statement was released in Johannesburg post market close on Thursday 24 April
2014 by Anglo American Platinum Limited (“Amplats”) in conjunction with Lonmin plc (“Lonmin”)
and Impala Platinum Holdings Limited (“Implats”):
PRODUCERS TABLE SETTLEMENT OFFER
Producers to take settlement offer to employees
Anglo American Platinum Limited (Amplats), Impala Platinum Holdings Limited (Implats) and
Lonmin Plc (Lonmin) advise that, unfortunately, no resolution has yet been achieved in
resolving the three-month strike relating to wages and benefits. This follows the recent
meetings between the producers and representatives of the Association of Mineworkers and
Construction Union (AMCU), in a process facilitated by the Minister of Labour.
The producers urged AMCU’s leadership to consider the economic position of the industry and
the companies, and the dire circumstances of employees, and to recommend the settlement
offer made by the producers to their members.
The settlement offer has been made in the interest of bringing an end to the 13-week strike that
has crippled the platinum sector and has brought untold hardship to employees, their families,
communities and the companies.
CEOs, Chris Griffith, Terence Goodlace and Ben Magara said: “We strongly urge the AMCU
leadership to take this fair settlement offer to their members and to let them decide. The
producers have a duty to provide the details of the settlement offer to our employees and will
do so forthwith.”
The settlement offer tabled by the producers on Thursday, 17 April 2014, would see the
minimum cash remuneration (comprising basic wages and holiday, living-out and other
allowances) for entry level underground employees rising to R12,500 per month (R150,000 per
annum) by July 2017. For Lonmin employees this reflects an increase in cash remuneration for
the highest-paid employees of 7.5% and an increase for the lowest earners of 9.5%. For
Amplats and Implats employees, this is an increase in cash remuneration of 7.5% for the
highest-paid employees and an increase of 10% for the lowest earners. This revised offer is
one of the highest increases anywhere in the sector and the country.
Allowances (such as the living out allowance) will rise in line with inflation. Allowances that are
determined by an existing formula (such as the holiday leave allowance), will continue to apply.
By implementing these increases over the period, the cost to company for the lowest paid
underground employees would be in excess of R17,500 per month (R210,000 per annum) by
July 2017. In addition to cash remuneration, the cost to company includes medical, pension,
overtime and bonuses.
The companies remain committed to dealing with long term issues of mutual concern, such as
labour migrancy and living conditions, through company-level joint task teams.
The offer currently includes the payment of back-pay related to the annual increase. This
would take effect from 1 July 2013 for Amplats and Implats employees and from 1 October
2013 for Lonmin employees. The principle of ‘no work, no pay’ applies for the duration of the
strike.
To date, the strike has cost employees some R6.4 billion in lost income and the producers
around R14.5 billion in lost revenue.
For further information, please contact:
Media:
Mpumi Sithole
Tel: +27 (0)11 373 6246
mpumi.sithole@angloamerican.com
Investors:
Emma Chapman
Tel (UK): +44 (0)20 7968 8451
Tel (SA): +27 (0)11 373 6239
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. Our portfolio of mining businesses
meets our customers’ changing needs and spans bulk commodities – iron ore and manganese,
metallurgical coal and thermal coal; base metals and minerals – copper, nickel, niobium and
phosphates; and precious metals and minerals – in which we are a global leader in both
platinum and diamonds. At Anglo American, we are committed to working together with our
stakeholders – our investors, our partners and our employees – to create sustainable value that
makes a real difference, while upholding the highest standards of safety and responsibility
across all our businesses and geographies. The company’s mining operations, pipeline of
growth projects and exploration activities span southern Africa, South America, Australia, North
America, Asia and Europe.
www.angloamerican.com
Johannesburg
25 April 2014
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
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