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NORTHAM PLATINUM LIMITED - Northams Booysendal operations reach a five-year wage settlement

Release Date: 13/12/2019 11:30
 
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Northam’s Booysendal operations reach a five-year wage settlement

NORTHAM PLATINUM LIMITED
Incorporated in the Republic of South Africa
(Registration number 1977/003282/06)
JSE share code: NHM ISIN code: ZAE000030912
Debt issuer code: NHMI
Bond code: NHM002 Bond ISIN: ZAG000129024
Bond code: NHM006 Bond ISIN: ZAG000158577
Bond code: NHM007 Bond ISIN: ZAG000158593
Bond code: NHM008 Bond ISIN: ZAG000158858
Bond code: NHM009 Bond ISIN: ZAG000158866
Bond code: NHM010 Bond ISIN: ZAG000159229
Bond code: NHM011 Bond ISIN: ZAG000159237
Bond code: NHM012 Bond ISIN: ZAG000160136
Bond code: NHM013 Bond ISIN: ZAG000162181
Bond code: NHM014 Bond ISIN: ZAG000163650
Bond code: NHM015 Bond ISIN: ZAG000164922
(“Northam”)

Northam’s Booysendal operations reach a five-year wage settlement

Northam is pleased to advise that wage negotiations at its Booysendal Platinum Proprietary Limited
(“Booysendal”) operations with the representative union, the Association of Mineworkers and
Construction Union (“AMCU”), have been concluded.

The settlement is effective from 1 July 2019 and assures Booysendal employees of increases to all
major components of remuneration over the next five years. The agreement is in line with industry
settlements and takes into consideration the reality of inflationary pressures faced by our employees.

The agreement secures five years of stability in line with delivering the 500 000 oz 4E growth target
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.

Paul Dunne, Northam’s chief executive said: “We recognise the mature and constructive manner in
which the engagement has been undertaken. The agreement provides for continuity, certainty and
allows all stakeholders to focus on the sustainability of the business going forward.”


Johannesburg
13 December 2019

Sponsor and Debt Sponsor
One Capital

Date: 13-12-2019 11:30:00
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