🕐22.09.11 - 09:54 Uhr
ANNOUNCEMENT: VILLAGE ANNOUNCES A PRODUCTION DISRUPTION AT CONS MURCH
Press Announcement
22 September 2011
Village announces a production disruption at Cons Murch
Village today announced that it started a process to dismiss employees, who
are members of the National Union of Mineworkers ("NUM"), that partook in an
unprotected strike action in the form of a go-slow campaign at its Cons
Murch mine in Limpopo.
The go-slow action over the last two weeks has
negatively impacted production from the underground operations at Cons Murch
with daily production achieved at around a third of normal production
levels.
The dispute arose in relation to certain historic overtime payments
claimed by the employees resulting from their employment at Cons Murch, pre
Village ownership and involvement.
In an attempt to normalise the labour situation and to avoid drastic action,
a further and final ultimatum was issued to our employees to normalise
production levels by Wednesday 21st September 2011.
It is anticipated that
there will be no production from Cons Murch for at least a two week period
and that antimony and gold production for the December 2011 quarter could be
some 500 tons and 25kg respectively, lower than that forecast for the
September quarter.
The lower production will not significantly impact on the
forecast production for the September quarter.
Although the lower production
will have a materially negative impact on the Cons Murch results for the
December quarter, it will not materially impact the results of Village for
the December quarter.
Notes to editors
Located in Gravelotte,, which is 50 km from Phalaborwa, Cons Murch is an
Antimony and Gold producing mine.
The mine has 3 operational shafts and
employs about 950 employees.
The National Union of Mineworkers (NUM)
represents mainly the semi- skilled category of the work force, with
Solidarity representing most of Category A employees (miners, artisans etc).
About 840 workers (NUM members) are to be affected in the dismissal process.
Contacts:
Village CEO | Bernard Swanepoel | | 083 303
9922
Vestor | Media and Investor Relations | Louise Brugman |
| 011 787 3015 | 083 504 1186
Logo_sharper02
media & investor relations
louise brugman
managing director
T: +27 (0) 11 787 3015
C: +27 (0) 83 504 1186
E:
www.vestor.co.za
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