Update on interruption in production at Northam’s Zondereinde mine

Northam advises that the unprotected work stoppage at the company’s Zondereinde mine continued today, Monday 15 April 2013.

In an effort to resolve the impasse with striking rock drill operators, management has continued to engage with representatives of the National Union of Mineworkers (NUM) at national and regional level. The parties and the union have agreed on a review of the application of the mine’s productivity bonus system.

In terms of a Labour Court interdict the current work stoppage at Zondereinde is unprotected. Employees are urged to return to work, and to engage through the established and agreed dispute resolution procedures. Employees have been reminded that failure to heed the terms of the interdict could lead to dismissals.

To date, Northam has lost around 10 600 ounces of 3PGM + Au and around R122.1 million in revenues.

Shareholders will be kept informed of further developments.

15 April 2013

Issued by
Russell & Associates
Tel +27 11 880 3924