Operational Update (0870K)
July 08 2011 - 10:56AM
UK Regulatory
TIDMPPN
RNS Number : 0870K
Platmin Limited
08 July 2011
NOT FOR DISSEMINATION IN THE UNITED STATES OR OVER UNITED STATES
NEWSWIRE SERVICES
OPERATIONS TO RESUME IN FULL AT Pilanesberg Platinum Mine
July 8, 2011, TORONTO: Platmin advises that agreement has been
reached between its mining contractor, MCC Contracts (Proprietary)
Limited (MCC), a wholly owned subsidiary of Eqstra Holdings
Limited, and the National Union of Mineworkers (NUM) on the full
resumption of mining operations at the Pilanesberg Platinum Mine
(PPM).
Tomorrow, Saturday 9 July, MCC maintenance teams will begin to
repair the damaged vehicles and normal working shifts will resume
on Monday, 11 July.
Employees who engaged in illegal industrial action and damage to
property on 23 June will remain suspended, pending disciplinary
action. MCC will work closely with the NUM in this regard.
Assessment of the extent of the damage to the MCC-owned mining
fleet continues. Eqstra will report on this to its shareholders.
Drilling and blasting equipment, fundamental to mining operations,
was unaffected and will start to operate immediately. MCC will
advise Platmin in due course of the potential impact of the
equipment damage to operations.
Platmin's concentrator has operated at full capacity throughout
the period by processing stockpiled, oxidised reef. There are still
considerable stockpiles available but scheduled preventative
maintenance of the concentrator will begin shortly.
When the full impact of the disruptions to mining operations has
been thoroughly assessed, a further announcement will be made.
For further information:
Charmane Russell Russell & Associates +27 11 880 3924
+27 82 372 5816
Charles Batten
Investec Bank
+44 (0) 207 597 5184
This information is provided by RNS
The company news service from the London Stock Exchange
END
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