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Industrial action update
DiamondCorp plc
(Incorporated in England and Wales)
(Registration number 05400982)
(SA company registration number 2007/031444/10)
AIM share code: DCP JSE share code: DMC
ISIN: GB00B183ZC46
("DiamondCorp")
INDUSTRIAL ACTION UPDATE
DiamondCorp, the Southern African diamond development and exploration company,
provides the following update on industrial action by members of the Association of
Mineworkers and Construction Union (AMCU) employed at the Lace diamond mine in the
Free State province of South Africa.
The issue in dispute is management's refusal to employ two full-time salaried shop stewards.
AMCU is the majority union at the Lace mine and already has five appointed shop stewards in
the workforce. Management last week met with AMCU officials in a bid to end the strike
action, but no agreement has yet been reached.
Until such time as the strike ends, tunnelling in the UK4 block and processing of kimberlite ore
is continuing with non-AMCU members. Mining of the the upper leg of the decline has been
temporarily suspended in order that development of the UK4 block can continue close to
schedule. For each two weeks that the strike continues, it is estimated that overall progress is
delayed by one week. Significant productivity gains continue to be achieved with the non-
AMCU members that are working and certain workplace practices will be addressed when the
striking workers return.
Installation of the underground conveyor belt is unaffected by the strike action. Final
commissioning of the conveyor will be dependent upon development schedules but the
commencement of mining of the UK4 block is currently still on target for the end of H1 2015.
Contact details:
DiamondCorp plc
Paul Loudon, Chief Executive
Tel: +27 56 216 1300
Euan Worthington, Chairman
Tel: +44 7753 862 097
UK Broker & Nomad
Panmure Gordon (UK) Limited
Dominic Morley/Adam James
Tel: +44 20 7886 2500
11 November 2014
JSE Sponsor
Sasfin Capital (a division of Sasfin Bank Limited)
Megan Young
Tel: +27 11 445 8068
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