Impala Platinum Holdings Ltd. (IMPUY: OTC Link) | IMPLATS UPDATE ON WORK STOPPAGE AT IMPALA RUSTENBURG

IMPLATS UPDATE ON WORK STOPPAGE AT IMPALA RUSTENBURG

Feb 20, 2012

OTC Disclosure News Service

Johannesburg, South Africa –

IMPLATS  UPDATE ON WORK STOPPAGE AT IMPALA RUSTENBURG

The work stoppage at our Rustenburg operations is now into its fifth week.  The more management observes the situation and interacts with the NUM and some of the workers, the more apparent it is that the strike is not about wage demands.  In fact, to date, no formal wage demands have been tabled by the NUM which represents the vast majority of workers on the mine, or any other representative body. 

Instead, we have seen the emergence of a new rival union, the AMCU.  This situation has been aggravated by the rejection of the NUM by a large constituency of its membership, specifically the rock drill operators.  In our opinion, the socio-economic realities of this group have been exploited and much misinformation used to influence their action.  The direct and criminal attack on Implats and the NUM membership has been extended to the informal and formal settlements around the mine, using service delivery grievances and unemployment to rally the community. 

Management believes that the majority of the employees want to return to work, but the unprecedented levels of intimidation and violence are preventing them from doing so.  To this end, it is encouraging to note that the SAPS has increased its response on the ground by establishing a joint operations centre in Phokeng.  Implats management is working with both SAPS and NUM in this regard.    

It is with regret that we report an incident this morning.  The SAPS confronted a group of around 150 people on their way to the North Hostel in the early hours of this morning.  A standoff ensued with two discharged workers and one current employee sustaining injuries; and a discharged winch operator from 7A shaft fatally injured.  The families of these men are being contacted and no further details are available.  Investigations are underway to establish the cause of the death and injuries.  

Implats’ continues the re-employment process, with 7,762 people, including 919 rock drill operators, being re-hired.  Management is encouraged by the employees returning to work and is in daily contact with the NUM at national and regional level to resolve the situation, but recognizes that the level of intimidation and violence needs to be broken and calls on the SAPS to do whatever is required to ensure the safety of employees, as the SAPS is the only entity legally permitted to enforce law and order. 

Our capital projects remain largely unaffected by the work stoppage.  Operations at the shafts continue to focus on cleaning, development and essential support services as we do not, at this time, have sufficient rock drill operators available to sustain blasting operations.  Implats continues to lose 20,000 ounces of platinum per week and to date have lost 80,000 ounces of platinum in total.

For further information:

Johan Theron, HR Executive:  011 731 9043 or 082 809 0166

 

The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.

Article source: http://www.otcmarkets.com/stock/IMPUY/news?id=42582

Leave a Reply

WP2FB Auto Publish Powered By : XYZScripts.com
Bunk Beds