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

UPDATE ON WORK STOPPAGE AT IMPALA RUSTENBURG

Feb 25, 2012

OTC Disclosure News Service

Johannesburg, South Africa –

Implats announces that following a meeting with the NUM and COSATU on Friday afternoon, 24 February 2012, in Johannesburg, the parties have agreed on a way forward.   

 

The 8,763 workers who have already re-applied for their jobs will be given their old terms and conditions of employment and benefits.  However, they will not be paid for the days on which they were on strike.

 

The re-application process will remain open until 15h00 on Wednesday, 29 February 2012.  Workers re-applying for their jobs from Monday will also be taken back on their old terms and conditions of employment and benefits.  They will also not be paid for the days on which they were on strike.  The impact of the strike has reduced our operational capacity to take back all 17,200 and we currently can accommodate only 15,000 employees.

 

As from Thursday, 1 March 2012, the recruitment process will revert to the normal employment procedures and employment will be on a first come first served basis with standard terms and conditions. 

 

Implats is looking forward to having the workers return to the mine on Monday and pleads for an end to the violence and intimidation, calling on the SAPS to continue to assist in this process.

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=42914

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