10th Sep 2008 10:00
Lonmin agrees wage adjustment with NUM
In October 2007, Lonmin and the National Union of Mineworkers ("NUM") agreed a two year wage agreement for Lonmin's Marikana operations. In recognition of the unprecedented increases in the levels of inflation in South Africa, Lonmin has agreed to increase the basic wage adjustment in the second year of this agreement to 12.5%. This adjustment is in line with current CPIX levels in South Africa and will take effect from 1 October 2008 for employees in the Marikana category 3 to 9 bargaining unit.
Lonmin is pleased to have reached this new agreement with NUM which recognises the increases in the cost of living in South Africa and looks forward to continuing to work with NUM to deliver its operational and transformational objectives.
Enquiries:
Alex Shorland-Ball +44 (0)207 201 6060
Vice President,
Investor Relations & Communications
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