Bokoni Platinum Mine concludes wage agreement

Dec 19, 2013, 08:00 ET from Atlatsa Resources Corporation

JOHANNESBURG, Dec. 19, 2013 /PRNewswire/ - Atlatsa Resources Corporation ("Atlatsa" or the "Company") (TSXV: ATL; NYSE MKT: ATL; JSE: ATL) is pleased to advise that its operating subsidiary, Bokoni Platinum Mines Pty Ltd ("Bokoni Mine") has reached a wage agreement with NUM, TAWUSA and UASA, the recognised trade unions at its mine operations.

The wage agreement:

  • provides for an average increase which exceeds the increase in the South African cost of living as measured by the inflation rate (CPI-X);
  • will be implemented retrospectively with effect from 1 July 2013; and
  • will remain in place for one year.

Bokoni Mine currently employs approximately 3,500 permanent employees.

This wage agreement represents a positive step forward for Bokoni Mine and its workforce, and contributes to the creation of a sustainable future for the mine and its stakeholders.

The platinum sector has, in recent times, experienced challenging conditions and we would like to thank our workforce and its leadership for their positive and pragmatic approach to the wage negotiations.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. The NYSE MKT LLC has neither approved nor disapproved the contents of this press release.

SOURCE Atlatsa Resources Corporation