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IMPALA PLATINUM HOLDINGS LIMITED - Implats reaches a three-year wage settlement

Release Date: 15/11/2019 12:18
Code(s): IMP IMCB22     PDF:  
 
Wrap Text
Implats reaches a three-year wage settlement

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
JSE alpha code: IMPCB
(“Implats” or the “Company”)

IMPLATS REACHES A THREE-YEAR WAGE SETTLEMENT

Implats’ operating subsidiaries - Impala Platinum Limited’s Rustenburg operations and Marula
Platinum Limited - have signed a three-year wage settlement with the Association of
Mineworkers and Construction Union (AMCU).

The settlement is effective from 1 July 2019 and assures employees of increases to all major
components of remuneration over the next three years including basic salaries, living-out and
home-ownership allowances, medical aid and pension fund contributions. The agreement is
in line with current mining inflation of c.7% and takes into consideration the reality of
inflationary pressures faced by our employees.

This agreement secures three years of stability at Implats’ operating entities and has been
achieved through a collaborative process typified by mutual respect and consideration and
without requiring intervention or mediation by third parties. The agreement removes
substantial uncertainty for our employees and allows a singular focus on the pursuit of safe
and sustainable production.

Queries:
Johan Theron                                     Emma Townshend
E-mail: johan.theron@implats.co.za               E-mail : emma.townshend@implats.co.za
T: +27 (0) 11 731 9013/43                        T : +27 (0) 21 794 8345
M: +27 (0) 82 809 0166                           M : +27 (0) 82 415 3770

Alice Lourens
E-mail: alice.lourens@implats.co.za
T: +27 (0) 11 731 9033/43
M: +27 (0) 82 498 3608

15 November 2019
Johannesburg

Equity and debt sponsor to Implats
Nedbank Corporate and Investment Banking

Date: 15/11/2019 12:18:00
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