BRIEF-Merafe Begins Consultation Process At LRA Rustenburg Smelter

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BRIEF-Merafe Begins Consultation Process At LRA Rustenburg Smelter
Credit: © Reuters.

Jan 20 (Reuters) - Merafe Resources Ltd MRFJ.J :

* CONSULTATION PROCESS IN TERMS OF SECTIONS 189 AND 189A OF THE LRA: RUSTENBURG SMELTER NW PROVINCE SOUTH AFRICA

* WRITTEN NOTICE HAS BEEN GIVEN TO ITS EMPLOYEES AT RUSTENBURG SMELTER, WHICH IS A JOINT VENTURE BETWEEN MERAFE AND GLENCORE ALLOYS

* RUSTENBURG SMELTER HAS SUFFERED MATERIAL FINANCIAL LOSSES WHICH ARE EXPECTED TO CONTINUE FOR FORESEEABLE FUTURE

* PARTIES WILL APPLY FOR APPOINTMENT OF FACILITATOR FROM COMMISSION FOR CONCILIATION, CCMA IN CONSULTATION PROCESS

* CONSULTATION PROCESS DUE TO "DETERIORATING" OPERATIONS AND MARKET CONDITIONS ACROSS SOUTH AFRICAN FERROCHROME INDUSTRY

* RECOGNISED TRADE UNIONS OF RUSTENBURG SMELTER AS AN ONGOING PROCESS AND ALL ALTERNATIVES WILL BE CONSIDERED

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