23rd Jan 2014 10:01
Lonmin Plc4 Grosvenor PlaceLondon SW1X 7YLUnited Kingdom
T: +44 (0)20 7201 6000F: +44 (0)20 7201 6100
www.lonmin.com
23 January 2014
Protected Strike Action
Lonmin Plc ("Lonmin" or "the Company") confirms, that following the receipt of The Association of Mineworkers and Construction Union's ("AMCU") notice of intention to strike on Monday 20th January, its AMCU member employees have today, Thursday 23rd January, embarked upon protected strike action. The South African labour relations legislation "no work - no pay" principle applies.
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.
The Company expects losses to be in the region of 3,100 platinum ounces per day during the strike. The Company will make further announcements on the development of the strike, and the consequential impact on production and operations, as and when appropriate.
Announcements relating to the situation can be found on Lonmin's website at http://www.lonmin.com
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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
|
+44 20 7930 0777 |
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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