Lonmin signs wage agreement with NUM

Press Release

12 January 2011

Lonmin signs wage agreement with NUM

Lonmin Plc ("Lonmin") is pleased to announce that as part of the two year agreement with the National Union of Mineworkers ("NUM") announced on 4 December 2009, it has successfully concluded discussions regarding the agreement's wage increment element for the second year. In terms of the settlement reached, employees will receive an 8% wage increase which will be backdated to 1 October 2010. In addition, each employee will receive an immediate one-off post tax payment of R850.

Ian Farmer, Chief Executive Officer, commented:

"We are pleased to have now concluded all our wage negotiations and we are grateful to the respective teams for the spirit with which they have been conducted. We also express our thanks to our employees who remained patient during the negotiating period".

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