NORTHAM PLATINUM LIMITED - Industrial action at Northam's Zondereinde mine - update 3

Industrial action at Northam's Zondereinde mine - update 3

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

INDUSTRIAL ACTION AT NORTHAM’S ZONDEREINDE MINE – UPDATE 3

Northam suspends operations at Zondereinde Mine to secure safety and security of employees and company assets


Northam Platinum Limited advises that management has taken a decision to temporarily suspend
operations at the Zondereinde Mine in the interests of securing the safety and security of employees
and company property. Employees who are members of the National Union of Mineworkers (NUM)
embarked on an unprotected strike on Tuesday 13 January 2015. Only essential services employees
will be expected to report for duty as per existing agreements.


This decision has been taken amidst rising tension at the mine, owing to incidents of intimidation,
assault and threats of violence towards non-striking employees and damage to property on
15 January 2015. A large number of employees signalled a desire to return to work on 15 January in
line with the direction of the Labour Court.


Zondereinde management continues to engage with the NUM in a bid to normalise operations as
soon as possible and urges the NUM to take heed of the Peace and Stability Framework for the
Mining Industry, signed in February 2013.


At the same time, the company will follow disciplinary procedures in respect of employees who
failed to heed the direction of the Labour Court to return to work. This could result in dismissals.


Zondereinde’s smelter operations continue to operate.


It should be noted that:
   -   Zondereinde Mine produces approximately 65% of Northam’s annual production.
   -   Production losses amount to around 1,000oz of PGMs per day, equating to revenue losses of
       R11.5 million per day. Employees forfeit wages and benefits of the order of R2.4 million per
       day.
   -   Zondereinde Mine employs 6,600 permanent employees and 2,100 contractors.




Johannesburg
16 January 2015

Sponsor
One Capital

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