JOHANNESBURG, South Africa, March 20, 2003 (PRIMEZONE) -- Impala Platinum Holdings Limited (Implats) (JSE:IMP) (LSE:IMPLA) (Pink Sheets:IMPUY) confirms that the work stoppage at its operations on the Impala Lease Area in North West Province has continued today (20 March 2003).
Discussions with the National Union of Mineworkers (NUM) have continued amicably, with the union leadership having undertaken to discuss issues with their members today. At a mass meeting this morning, employees were urged to go home ahead of the long weekend(a) and to return to the premises on Monday. Large numbers of employees appear to have done this.
Ultimatums have now been issued to employees to return to work. The company has applied to the Labour Court for an interdict to support this.
As at the close of business on 20 March 2003, if production at Implats cannot be made up, then Implats would have lost an effective four days of production at a rate of approximately 3,700oz of platinum per day or R10m to R15m in attributable income per day.
(a) Friday, 21 March 2003 is a public holiday in South Africa.