RNS Number : 1884H
Lonmin PLC
24 May 2011
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Lonmin Plc
Industrial Action at Karee
Lonmin Plc, ("Lonmin") announces that it has started the process of dismissing those employees who have been participating in the unprotected industrial action at its Karee operations since Tuesday 17th May 2011. This is in line with the interdict that was granted by the South African Courts to Lonmin on Friday 20th May 2011.
This unprotected industrial action has arisen as a result of a dispute between the National Union of Mineworker's ("NUM") Rustenberg regional office and the leadership of the local Karee branch of the NUM.
Lonmin's Karee operations employee around 9,000 people and produce around 17,000 tonnes per day. Once the process of dismissal is complete, Lonmin will commence a recruitment programme.
A further update will be provided in due course.
ENQUIRIES:
Investors / Analysts:
Tanya Chikanza +27 (0) 11 218 8300
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Media:
Cardew Group +44 (0) 207 930 0777
Rupert Pittman / James Milton
Financial Dynamics +27 (0) 21 487 9000
Dani Cohen / Ravin Maharaj
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Lonmin PLC.
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PRODUCER |
CODE : LMI.L |
ISIN : GB0031192486 |
CUSIP : 54336Q203 |
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Lonmin is a gold and platinum producing company based in United kingdom. Lonmin produces gold, platinum, palladium and rhodium in South Africa, and holds various exploration projects in Canada, in Gabon, in South Africa and in Tanzania. Its main assets in production are PANDORA JV, LIMPOPO, MARIKANA, EASTERN PLATINUM (EPL) and KAREE MINE (WPL) in South Africa and its main exploration properties are LUWUMBU in Tanzania, PANTON in Australia, MESSINA PLATINIUM and WESTERN PLATINUM in South Africa and WINDY LAKE in Canada. Lonmin is listed in Germany, in United Kingdom and in United States of America. Its market capitalisation is GBX 21.4 billions as of today (US$ 25.0 billions, € 22.0 billions). Its stock quote reached its highest recent level on August 28, 2009 at GBX 9 964.65, and its lowest recent point on June 28, 2019 at GBX 75.60. Lonmin has 282 784 288 shares outstanding. |