TSX-V
ARQ.V
0,20 CA$
42,86%
Completes Significant Labour Restructuring At Bokoni Mines
Publié le 10 mai 2010
May 10, 2010 - Anooraq Resources Corporation (�Anooraq� or the �Company�) (TSXV: ARQ; NYSE Amex: ANO; JSE: ARQ) confirms that the labour restructuring process entered into at its flagship operation, Bokoni Platinum Mines (�Bokoni�), during the fourth quarter of 2009, has been completed.
The labour restructuring agreements were finalised with the relevant trade unions in December 2009. The subsequent implementation of the labour restructuring plan affected some 840 on-mine personnel, comprising approximately 25% of the Bokoni workforce.
As a result of the labour restructuring, 153 employees were retrenched and 374 employees were transferred from positions in services to production activities. During January 2010, some 103 employees were dismissed from the operations due to an unprotected strike and six production shifts were lost during the industrial action.
The completion of the labour restructuring lays the foundation for the Company�s production growth strategy at Bokoni, commencing with effect from April 2010. This strategy will see the introduction of additional stoping teams at the operations, as well as additional production efficiency measures being implemented to improve current production volumes. The Company intends increasing its number of stoping teams at Bokoni by 40% from its current base of 70 teams, to some 100 stoping teams in service by year end.
Philip Kotze, CEO of Anooraq, said, �The labour restructuring at Bokoni was a key component of the turnaround strategy, which we identified when assuming operational control of the mine in July 2009. We now have the right people in the right jobs, ready to maximise efficiencies both from a production and cost perspective. We believe the benefits of this restructuring should start to bear fruit at the operations during the second quarter of 2010.�
For further information, please visit our website www.anooraqresources.com, call investor services in South Africa at +27 11 883 0831, in North America at 1 800 667 2114 or use the contacts referenced below.
Queries:
Joel Kesler
Executive: Corporate and Business Development
Office: +27 11 779 6800
Mobile: +27 82 454 5556
Russell and Associates
Charmane Russell / Nicola Taylor
Office: +27 11 880 3924
Mobile: +27 82 372 5816 / +27 82 927 8957
Macquarie First South Advisors
Melanie de Nysschen / Annerie Britz / Manisha Ramlakhan
Office: +27 11 583 2000
Mobile: +27 82 465 8969 / +27 83 295 1204
Best Regards,
Investor Services
Hunter Dickinson
Toll Free 1-800-667-2114 | Main 1-604-684-6365
info@hdgold.com | www.hdgold.com
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