Announcements 2010

Strike action at Zondereinde Mine

Johannesburg, Monday 6 September 2010. The management of Northam Platinum Limited (Northam) advises that the majority of employees (80%) at its Zondereinde mine near Thabazimbi in the Limpopo province, embarked on strike action with effect from the night shift yesterday, Sunday 05 September 2010.

The local branch committee of the National Union of Mineworkers (NUM) served the company with notice to strike on Thursday 2 September 2010 following the NUM’s rejection of the company’s increased wage offer of 8% , and a similar increase in the living out allowance to R1 728 per month.

Zondereinde produces approximately 1 000 ounces (platinum, palladium, rhodium and gold) per day. At current rand basket price levels, revenue losses are estimated to be R9 million per day.

Zondereinde employs some 6800 permanent employees.