/NOT FOR DISSEMINATION IN THE UNITED STATES OR OVER UNITED STATES
TORONTO, Sept. 9 /CNW/ - Further to the announcement issued on 12 August
2009, Platmin Limited ("Platmin", TSX/AIM: PPN, JSE: PLN) is pleased to advise
that mining activities have now resumed at the Pilanesberg Platinum Mine in
The stoppage was as a result of an illegal strike by the workers of the
mining contractor, MCC Contracts (Pty) Limited ("MCC"). The strike was due to
non-recognition of a second union on the mine-site and this issue has been
resolved to the satisfaction of all parties. The majority of the 500 workers
that were previously discharged by MCC have been re-instated.
The industrial action has delayed the ramp-up and commissioning program
however mine management and MCC are actively working together on a remedial
plan to catch up any lost production.
Platmin is an emerging PGM producer. Its flagship Pilanesberg platinum
mine on the western limb of the Bushveld Complex is currently ramping up to
full production. Platmin also holds interests in a suite of exploration and
development projects, viz Mphahlele, Grootboom and Loskop projects which offer
long-term growth potential on the eastern limb of the Bushveld Complex. The
South African Bushveld Complex is estimated to contain approximately 90% of
global platinum resources.
For further information:
For further information: Ian Watson, Chief Executive Officer, +27 12 661
4280; Terry Holohan, Chief Operating Officer, +27 12 661 4280; Fiona Owen,
Grant Thornton UK LLP (Nominated Adviser), +44 207 383 5100; Marion Brower,
Russell & Associates, +27 11 880 3924