22nd May 2013 07:00
Lonmin Plc4 Grosvenor PlaceLondon SW1X 7YLUnited Kingdom
T: +44 (0)20 7201 6000F: +44 (0)20 7201 6100
www.lonmin.com
REGULATORY RELEASE
22 May 2013
Update on union recognition negotiations
Lonmin Plc ("the Company") announces that, in negotiations through the Commission for Conciliation, Mediation and Arbitration (CCMA), no agreement has been reached on forming a new union recognition agreement with the Association of Mineworkers and Construction Union (AMCU).
With no resolution between the parties having been obtained, the senior commissioners of the CCMA issued a Certificate of Non-Resolution on the afternoon of Tuesday 21 May, 2013. The parties have agreed to meet for a further session on Thursday 23 May, 2013, to attempt to move the process forward.
If no agreement can be reached at that meeting the process will then move to formal arbitration.
Acting CEO Simon Scott said: "This is a lengthy and complex process and whilst we have not yet reached an agreement we are committed to a labour relations environment that can sustain peace and stability at our mines and in our mining communities."
The Company will make a further announcement 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 /Alexandra Stoneham | +44 20 7930 0777 |
Sue Vey | +27 72 644 9777 |
Brunswick - Johannesburg
Itumeleng Mahabane/Cecilia de Almeida | +27 11 502 7400 / +27 83 325 9169 |
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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