Aquarius Platinum Wage agreement reached at Kroondal
22 July 2014 - 12:29AM
UK Regulatory
TIDMAQP
AQUARIUS PLATINUM LIMITED
21 July 2014
Wage agreement reached at Kroondal
Aquarius Platinum Limited (Aquarius) advises that its wholly owned subsidiary,
Aquarius Platinum (South Africa) (Proprietary) Limited ("AQPSA") has reached
separate three-year wage agreements with the National Union of Mineworkers
("NUM") and Solidarity in relation to their respective members employed at
Kroondal. The agreements are effective from 1 July 2014, and will be applied to
all employees within the respective bargaining units at Kroondal. The NUM
represents the majority of Kroondal's semi-skilled work force, while Solidarity
represents the majority of Kroondal's skilled work force.
Measured on a cost to company basis the average increase slightly exceeds the
increase in the cost of living as measured by inflation rate (CPI).
Aquarius acknowledges with appreciation the critical contribution that the
employees of Kroondal continue to make to the ongoing safety and operational
improvements at the Kroondal mine; the leadership shown by the Kroondal mine's
management team during the negotiation process and the constructive and mature
manner in which the NUM and Solidarity conducted the wage negotiations.
The successful conclusion of the wage agreements are a significant positive
development for the company. AQPSA is extremely proud of its workforce which
continued to work without interruption to maintain its operating performance
throughout the negotiation process.
For further information please contact:
Jean Nel - CEO
+270100012848
Willi Boehm - Company Secretary
+61893675211
For media enquiries: Charmane Russell or Janet Whitaker
+2711 880 3924
+2782 372 5816
or visit: www.aquariusplatinum.com
END
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