20th Jan 2014 10:30
REGULATORY RELEASE
20 January 2014
Lonmin receives strike notice from AMCU
The Association of Mineworkers and Construction Union ("AMCU") has today issued Lonmin Plc ("Lonmin") with a 48-hour notice of its intention to embark upon protected strike action. According to the notice received from AMCU, the strike will commence on Thursday 23rd January 2014.
Lonmin met with majority union AMCU at the Commission of Conciliation, Mediation and Arbitration (CCMA) on 10 December 2013, as part of ongoing attempts to reach a sustainable resolution to the wage demands. Regrettably, no resolution was achieved and the Commissioner issued the certificate of non-resolution. South African labour relations legislation now allows AMCU to embark upon legal strike action, to which the "no work - no pay" principle will apply.
Lonmin remains committed to finding a positive and sustainable resolution to the dispute in the interests of all its stakeholders and management continues to engage at all levels to seek agreement.
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ENQUIRIES
Investors / Analysts:
Lonmin
Ruli Diseko +27 83 656 2839
Sue Vey | +27 72 644 9777 |
Media:
Cardew Group Anthony Cardew / James Clark
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Notes to editors
Lonmin, which is listed on both the London Stock Exchange and the Johannesburg Stock Exchange, is one of the world's largest primary producers of PGMs. These metals are essential for many industrial applications, especially catalytic converters for internal combustion engine emissions, as well as their widespread use in jewellery.
Lonmin's operations are situated in the Bushveld Complex in South Africa, where nearly 80% of known global PGM resources are found.
The Company creates value for shareholders through mining, refining and marketing PGMs and has a vertically integrated operational structure - from mine to market. Lonmin's mining operations extract ore from which the Process Division produces refined PGMs for delivery to customers. Underpinning the operations is the Shared Services function which provides high quality levels of support and infrastructure across the operations.
For further information please visit our website: http://www.lonmin.com
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