LONMIN PLC - Update on wage negotiations

Release Date: 12/06/2014 14:08
Code(s): LON
Wrap Text
Update on wage negotiations

Lonmin Plc (Incorporated in England and Wales)
(Registered in the Republic of South Africa under registration number 1969/000015/10)
JSE code: LON
Issuer Code: LOLMI & ISIN : GB0031192486 ("Lonmin")


12 June 2014

                                   Update on wage negotiations

Lonmin Plc (“Lonmin” or the “Company”) announces that informal undertakings have been reached
in principle with the leadership of the Association of Mineworkers and Construction Union (“AMCU”)
in respect of wages and conditions of employment. AMCU will be discussing these in principle
undertakings with its members to seek a mandate.

The same in principle undertakings have been received by our peer PGM producers, Anglo American
Platinum Limited (“Amplats”) and Impala Platinum Holding Limited (“Impala”), who will make their
own announcements in the normal way.

The principles that underpin the proposals seek to achieve a sustainable future for the three
platinum companies for the benefit of all stakeholders and to afford employees the best possible
increase under the current financial circumstances.

The companies expect to receive feedback from AMCU on Friday, 13 June. Thereafter, and should an
agreement be reached, the companies will be assisting employees to ensure a safe return to a
normal working environment.

Further details will be made available once feedback is received from AMCU.

- ENDS –


Investors / Analysts:
Tanya Chikanza (Head of Investor Relations)              +27 11 218 8358 /
                                                         +44 20 7201 6007
Floyd Sibandze (Investor Relations Manager)               +27 11 218 8300

Cardew Group
James Clark                                              +44 20 7930 0777
Sue Vey                                                   +27 72 644 9777

Sponsor: J.P. Morgan Equities South Africa (Pty) Ltd
Notes to editors

Lonmin, which is listed on both the London Stock Exchange and the Johannesburg Stock Exchange, is
one of the world's largest primary producers of PGMs. These metals are essential for many industrial
applications, especially catalytic converters for internal combustion engine emissions, as well as
their widespread use in jewellery.

Lonmin's operations are situated in the Bushveld Complex in South Africa, where nearly 80% of
known global PGM resources are found.

The Company creates value for shareholders through mining, refining and marketing PGMs and has a
vertically integrated operational structure - from mine to market. Lonmin's mining operations
extract ore from which the Process Division produces refined PGMs for delivery to customers.
Underpinning the operations is the Shared Services function which provides high quality levels of
support and infrastructure across the operations.

For further information please visit our website: http://www.lonmin.com

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