Northam Platinum announcement - Zondereinde update
Further to the notice to shareholders issued on Friday 5 April 2013, Northam advises that striking rock drill operators at Zondereinde have failed to resume their duties in spite of an ultimatum issued to them before close of business on Monday 8 April 2013. The company will now follow due process which could result in the dismissal of the affected employees.
The protracted interruption in drilling operations has a detrimental effect on underground working conditions, which could pose a safety risk, and which will deteriorate further if normal operations are not resumed expeditiously. A total of 165kg (5 300 ounces) of metal in concentrate has now been lost, with revenue losses amounting to R62.7 million.
Shareholders will be kept informed of further developments.
9 April 2013
Russell & Associates
Tel +27 11 880 3924