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UPDATE: DISRUPTIONS AT PILANESBURG PLATINUM MINE

04.07.2011  |  CNW

TORONTO, July 4, 2011 /CNW/ --
/NOT FOR DISSEMINATION IN THE UNITED STATES OR OVER UNITED STATES
NEWSWIRE SERVICES/


TORONTO, July 4, 2011 /CNW/ - On 24 June, Platmin Limited issued an
announcement relating to disruptions at the Pilanesberg Platinum Mine
caused by a small group of employees of mining contractor, MCC
Contracts (Proprietary) Limited (MCC). Platmin's priorities since the
disruptions have been to ensure the safety of employees and the
security of assets and equipment; to minimise the impact on production
by processing stockpile material and conducting maintenance; and the
rapid resumption of mining operations.


The damage to MCC-owned and leased operational and personally-allocated
vehicles is being assessed. Drilling and blasting equipment, which is
fundamental to the mining activity, was not affected.


Platmin is assisting MCC, who are engaged with the National Union of
Mineworkers (NUM) in terms of MCC's recognition agreement, and the
parties are working closely with the South African Police Services in
identifying and prosecuting those individuals involved in the
disruptions. Several arrests have been made.


While mining activities have been affected by these events, Platmin's
concentrator has operated at full capacity throughout the period by
processing stockpiled, oxidised reef and in fact despatched record
metal in concentrate during June. Scheduled preventative maintenance
will be bought forward to align with future production planning.


The process of consultation with the NUM on the safe and orderly
resumption of operations has been constructive and a further meeting
has been scheduled for today, Monday, 4 July. MCC's engineering
personnel could resume work immediately thereafter to repair or replace
the affected vehicles. Drilling and blasting crews and the load and
haul crews not involved in the disruptions can start work as soon as
agreement has been reached between the parties. Inevitably though,
mining operations will be disrupted for a period, and the build-up of
ore stockpiles accordingly delayed. A further announcement will be made
when the impact has been more accurately established.

To view this news release in HTML formatting, please use the following URL: http://www.newswire.ca/en/releases/archive/July2011/04/c2974.html

Craig Shaw 
Chief Financial Officer
27 12 661 4280

Investec Bank plc (Nominated Adviser) 
Charles Batten
44 207 597 4000

Russell & Associates 
Charmane Russell
27 11 880 3924



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