This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Bokoni Labour Unrest - Update

JOHANNESBURG, Oct. 16, 2012 /PRNewswire/ - Atlatsa Resources Corporation ("Atlatsa" or the "Company") (TSXV: ATL; NYSE MKT: ATL; JSE: ATL) confirms that only 643 of the 2,161 dismissed employees at Bokoni Platinum Mines ("Bokoni") returned to work yesterday. These employees were dismissed on 6 October 2012 for their involvement in unprotected industrial action and were issued with final written warnings relating to their continued employment at Bokoni, conditional upon their return to work on 15 October, 2012. All employees who failed to return to work yesterday are dismissed with effect from 6 October 2012.

The employees who did report for duty were intimidated and threatened with violence by a group of dismissed employees who initiated an illegal march at the mine premises yesterday. This unrecognised group, who describe themselves as the "Bokoni Labour Forum", continued with their unlawful actions at the mine premises yesterday and intensified their acts of violence and intimidation, causing damage to mine property and blocking roads onto the mine premises. Today, dismissed employees burnt mine vehicles at Bokoni's Brakfontein shaft premises.

The SA Police Services presence at the mine has been increased, criminal charges have been laid against certain persons and arrests have been made.

Whilst the situation at the mine remains volatile and the dismissed employees continue to threaten an increase in their acts of violence, intimidation and damage to property Bokoni's main priority is to ensure the continued safety of all its employees and minimise damage to its property caused by unlawful actions committed at mine premises.

Only essential services continue at Bokoni operations.

Further updates will be provided in due course.

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.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

Chart of I:DJI
DOW 16,351.38 +293.03 1.82%
S&P 500 1,948.86 +35.01 1.83%
NASDAQ 4,749.9790 +113.8740 2.46%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs