JOHANNESBURG, South Africa, Oct. 1, 2004 (PRIMEZONE) -- Impala Platinum Holdings Limited (Implats) (Pink Sheets:IMPUY) (JSE:Imp) (LSE:Ipla) (ADRS:Impuy) regrets to advise that no further progress was made in respect of wage negotiations with the National Union of Mineworkers (NUM) at Impala Platinum today (October 1, 2004). Some 17 000 members of the NUM embarked on strike action on 30 September 2004 at the mining and processing operations on the Impala lease area near Rustenburg, and at the Refineries in Springs.
Implats' final offer is 7.5% relative to current inflation levels of around 4%. The company is disappointed that the NUM has regressed to a demand of 8.5%. Implats remains committed to the process of constructive negotiations should the union wish to engage further.