Operations resume at Northam’s Zondereinde mine

Northam management confirms that drilling operations resumed at Zondereinde this morning Tuesday, 23 April 2013. This follows an agreement between management and the National Union of Mineworkers (NUM) yesterday, Monday, 22 April 2013.

A Memorandum of Understanding signed between the two parties provides for the payment of ‘return to work’ compensation comprising a once off ex gratia payment equivalent to 50% of their basic wages for the duration of the strike period and R2 000.

Total production losses amount to 16 000oz 3PGE+Au with a current value of approximately R192 million.

Johannesburg
23 April 2013

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