IMPALA PLATINUM HOLDINGS LIMITED - Implats to implement employee consultative process at its Impala Rustenburg operation

Implats to implement employee consultative process at its Impala Rustenburg operation

IMPALA PLATINUM HOLDINGS LIMITED 
(Incorporated in the Republic of South Africa) 
(Registration number 1957/001979/06) 
JSE Share code: IMP  
ISIN: ZAE000083648 
ADR code: IMPUY 
(“Implats” or “Company”) 

Implats to implement employee consultative process at its Impala Rustenburg operation 
  
Impala Platinum Holdings Limited (Implats) has issued a notice to relevant employee representative groups, 
government authorities and other stakeholders at its Impala Rustenburg (Impala) operation, indicating that 
it has initiated a Section 189 consultation process, in terms of the Labour Relations Act, 66 of 1995 (LRA), 
that may lead to staff reductions. 
 
The consultation process is specifically aimed at ensuring the sustainability of the Impala operations, which 
currently employ some 31 000 people.  
 
The Company is currently experiencing severe financial pressures at Impala, largely as a result of persistently 
low metal (Rand) prices and continued production cost increases. Labour productivity rates have also 
declined over the last few years and production levels at Impala Rustenburg have reduced from a historical 
base of some 1 000 000 platinum ounces per annum, to the 680 000 to 720 000 ounces forecast for the 2018 
financial year.  
 
Nico Muller, Implats’ Chief Executive Officer, commented, “The financial sustainability of Impala has 
deteriorated significantly over recent years.  We have implemented ongoing cost saving and optimisation 
initiatives in an attempt to restore profitability and secure continued employment as far as possible. 
Unfortunately, we are now left with no further option in the prevailing operating environment, but to 
consider further restructuring processes that may lead to a reduction in the number of employees.” 
 
It is expected that some 2 500 people could be affected near term, but this does not preclude further 
optimisation processes that may be required in future to ensure the continued sustainability of the operation. 
  
Nico Muller added, “It must be emphasised that no final decision has been taken as regards the proposed 
restructuring, and no final decision will be taken prior to full and proper consultation with affected 
employees, and their representatives, in compliance with the LRA.”  
 
Queries: 
Johan Theron                                              Alice Lourens 
Email: johan.theron@implats.co.za                        Email: alice.lourens@implats.co.za 
T: +27 (0) 11 731 9013/43                                 T:  +27 (0) 11 731 9033/43 
M: +27 (0) 82 809 0166                                    M: +27 (0) 82 498 3608 
 
18 September 2017 
Johannesburg 
 
Sponsor to Implats 
Deutsche Securities (SA) Proprietary Limited 


                                                            

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