Update : Disruptions at Pilanesburg Platinum Mine (7162J)
July 04 2011 - 9:00AM
UK Regulatory
TIDMPPN
RNS Number : 7162J
Platmin Limited
04 July 2011
NOT FOR DISSEMINATION IN THE UNITED STATES OR OVER UNITED STATES
NEWSWIRE SERVICES
UPdate: Disruptions at Pilanesburg Platinum Mine
July 4, 2011, TORONTO: On 24 June, Platmin Limited issued an
announcement relating to disruptions at the Pilanesberg Platinum
Mine caused by a small group of employees of mining contractor, MCC
Contracts (Proprietary) Limited (MCC). Platmin's priorities since
the disruptions have been to ensure the safety of employees and the
security of assets and equipment; to minimise the impact on
production by processing stockpile material and conducting
maintenance; and the rapid resumption of mining operations.
The damage to MCC-owned and leased operational and
personally-allocated vehicles is being assessed. Drilling and
blasting equipment, which is fundamental to the mining activity,
was not affected.
Platmin is assisting MCC, who are engaged with the National
Union of Mineworkers (NUM) in terms of MCC's recognition agreement,
and the parties are working closely with the South African Police
Services in identifying and prosecuting those individuals involved
in the disruptions. Several arrests have been made.
While mining activities have been affected by these events,
Platmin's concentrator has operated at full capacity throughout the
period by processing stockpiled, oxidised reef and in fact
despatched record metal in concentrate during June. Scheduled
preventative maintenance will be bought forward to align with
future production planning.
The process of consultation with the NUM on the safe and orderly
resumption of operations has been constructive and a further
meeting has been scheduled for today, Monday, 4 July. MCC's
engineering personnel could resume work immediately thereafter to
repair or replace the affected vehicles. Drilling and blasting
crews and the load and haul crews not involved in the disruptions
can start work as soon as agreement has been reached between the
parties. Inevitably though, mining operations will be disrupted for
a period, and the build-up of ore stockpiles accordingly delayed. A
further announcement will be made when the impact has been more
accurately established.
For further information:
Craig Shaw Chief Financial Officer +27 12 661 4280
Investec Bank plc (Nominated Adviser) Charles Batten +44 207 597
4000
Russell & Associates Charmane Russell +27 11 880 3924
This information is provided by RNS
The company news service from the London Stock Exchange
END
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