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
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

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

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, 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
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

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

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,086.63 -26.91 -0.16%
S&P 500 1,987.01 +3.48 0.18%
NASDAQ 4,473.6970 +17.6810 0.40%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs