Zondereinde strike – update 6

Johannesburg, 20 November 2013. The management of Northam Platinum Limited (Northam) advises that revenue losses at the company’s Zondereinde mine to date have grown to approximately R200 million.

The revenue losses result from a strike by the National Union of Mineworkers (NUM) which has declined the company’s offer for wage increases of up to 9%. Employees have lost R30 million in wages to date.

The strike enters its 14th day today. On average, Zondereinde produces 1 000 ounces on a daily basis.

The company cannot accede to the NUM’s demands, which would significantly raise the cost base of the business and jeopardise the sustainability of the company and jobs, in the longer term.

For further information on the company’s offer and the union’s demands see:
wagenegotiations.northam.co.za

Issued by
Russell & Associates
Johannesburg
Tel +27 (0)11 880 3924