15th Jul 2013 14:58
REGULATORY RELEASE
15 July 2013
Update on NUM Court Application and Union Recognition
Lonmin Plc ("the Company") would like to update the market, further to our regulatory release of 8 July 2013, on a court case which concluded in South Africa today involving issues around union recognition.
The National Union of Mineworkers (NUM) applied to the labour court to suspend the 90 day notice period for the derecognition of NUM as the largest union at Lonmin.
Giving judgment this morning, the judge dismissed NUM's case, struck the matter off the roll and awarded costs against the union.
This conclusion allows the present timetable around recognition, as well as the ongoing arbitration procedure the Company is involved in with AMCU, to continue unchanged. As previously announced, the recognition agreement between the NUM and Lonmin will expire on 16 July 2013, whilst the arbitration proceedings with AMCU are still scheduled for 29 July 2013.
Lonmin remains wholly committed to finding a sustainable solution to the issue of union recognition which is fair and equitable and with which all stakeholders can agree. It also believes that employees have the right to be represented by the union of their choice.
The Company will update the market further when appropriate.
- ENDS -
ENQUIRIES
Investors / Analysts:
Lonmin
Tanya Chikanza (Head of Investor Relations) | +27 11 218 8358 / +44 20 7201 6007 |
Ruli Diseko (Investor Relations Manager) | +27 11 218 8300 |
Media:
Cardew Group Anthony Cardew / James Clark
|
+44 20 7930 0777 |
Sue Vey | +27 72 644 9777 |
Brunswick - Johannesburg Itumeleng Mahabane / Tim Schultz |
+27 11 502 7400 / +27 82 309 2496 |
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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