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Lonmin PLC Updates On Arbitration Process

Wednesday, 26 Jun 2013 08:27am EDT 

Lonmin PLC announced that it has agreed to postpone scheduled arbitration with the Association of Mineworkers and Construction Union (AMCU) over the ongoing union recognition dispute at AMCU’s request. The Company agreed to an AMCU request to delay the talks in order to allow the process of engagement, led by The Deputy President of The Republic of South Africa (which involves business, government and labour), to take course. Lonmin remains fully committed to concluding a new union recognition agreement with AMCU as the majority union. The Company is striving to reach an agreement which is in the interests of all of employees and has made reasonable offers in discussions with AMCU in an attempt to achieve this. Lonmin believes that an agreement can be reached through continued negotiations. 

Company Quote

0.7 +0.51%
11:36am EDT