Key Developments: Atlatsa Resources Corp (ATL)
23 May 2013
Latest Key Developments (Source: Significant Developments)
Atlatsa Resources Corp announced that the process of appeal hearings from NUM and TAWUSA on behalf of their members who were dismissed at Bokoni Platinum Mines (Bokoni) on October 6, 2012 were concluded on October 11, 2012. NUM and TAWUSA are the recognised unions at Bokoni. The affected employees were issued with final written warnings relating to their continued employment at Bokoni, conditional upon their return to work on October 15, 2012. In a further development, a number of the dismissed employees have been involved in unlawful actions on mine property subsequent to their dismissal. The Company has obtained a further interdict against these individuals who are now prohibited from committing any unlawful acts on mine property, including inciting violence or intimidating employees at Bokoni. Employees who are found to have committed acts of misconduct during the period of unlawful industrial action may be subject to further disciplinary action in due course. Full Article
Atlatsa Resources Corp announced that 2,161 employees taking part in unprotected industrial action at Bokoni Platinum Mines (Bokoni) since October 1, 2012 have been dismissed, following the granting of a court interdict in favour of Bokoni. Dismissed employees have been given up until the close of business on October 10, 2012 to appeal their dismissal. Full Article
Atlatsa Resources Corp announced that the transactions pursuant to the interim implementation agreement with Anglo American Platinum Limited have been closed and implemented. This series of transactions comprises the first phase of the Company's restructuring, recapitalization and refinancing plan, its wholly owned subsidiary, Plateau Resources Pty Ltd, as well as the Bokoni group of companies. The second phase of the Restructure Plan remains subject to finalization of definitive agreements with respect to such transactions, as well as obtaining the necessary shareholder and regulatory approvals, including from the Department of Mineral Resources, South Africa, applicable stock exchanges and other regulatory bodies. Full Article
Anooraq Resources Corp announced that it is proceeding with the implementation of its name change as previously approved by shareholders, from Anooraq Resources Corporation to Atlatsa Resources Corporation. The Change of Name will be legally effective upon the filing of the notice of alteration with British Columbia Corporate Registry. Full Article
JOHANNESBURG, March 27 - South Africa's Anglo American Platinum (Amplats) said on Wednesday it would acquire two mining assets and inject capital into Atlatsa Resources as part of a 3.5 billion rand ($380 million) restructuring of the debt-laden miner.