Platmin Limited announces operations to resume in full at Pilanesberg Platinum Mine

Monday, Jul 11, 2011

Platmin advises that agreement has been reached between its mining contractor, MCC Contracts (Proprietary) Limited (MCC), a wholly owned subsidiary of Eqstra Holdings Limited, and the National Union of Mineworkers (NUM) on the full resumption of mining operations at the Pilanesberg Platinum Mine (PPM).

Tomorrow, Saturday 9 July, MCC maintenance teams will begin to repair the damaged vehicles and normal working shifts will resume on Monday, 11 July.

Employees who engaged in illegal industrial action and damage to property on 23 June will remain suspended, pending disciplinary action. MCC will work closely with the NUM in this regard.

Assessment of the extent of the damage to the MCC-owned mining fleet continues. Eqstra will report on this to its shareholders. Drilling and blasting equipment, fundamental to mining operations, was unaffected and will start to operate immediately. MCC will advise Platmin in due course of the potential impact of the equipment damage to operations.

Platmin's concentrator has operated at full capacity throughout the period by processing stockpiled, oxidised reef. There are still considerable stockpiles available but scheduled preventative maintenance of the concentrator will begin shortly.

Source: Canadawire