27 Aug 2009 12:57
AQUARIUS PLATINUM LIMITEDASX, LSE & JSE27 August 2009
Update : Unprotected industrial action by contractor employees at
Kroondal and Marikana operations
Aquarius Platinum Limited (AQP) advises that further to the announcement of Wednesday 26 August, the principal underground mining contractor at Aquarius Platinum (SA) (Pty) Ltd's (AQPSA) Kroondal and Marikana operations, has dismissed 3,900 of its employees as a result of unprotected industrial action. The dismissal was effective on the afternoon of Wednesday 26 August.
AQPSA expects that production at the affected shafts will commence on Monday 31 August and will ramp up over a period of up to two weeks while further employees are engaged and deployed to these operations. AQPSA anticipates a production loss of some 15,000 ounces PGMs (4E) (50% attributable to AQP).
The company regrets this outcome, but acknowledges that the process has been conducted in accordance with the Labour Relations Act.
The relining of the K2 mill has commenced and is scheduled for completion on Tuesday 1 September.
For further information please contact:
In Australia:Willi Boehm+61 (0) 8 9367 5211In the United Kingdom:Stuart Murray+ 27 (0) 11 656 1140In South Africa:Charmane Russell+27 (0) 11 880 3924REGISTERED OFFICE
Aquarius Platinum Limited Clarendon House 2 Church Street Hamilton HMCX Bermuda
Email: info@aquariusplatinum.com
Telephone: +61 8 9367 5211
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