Platinum Australia Limited (ASX:PLA) is pleased to advise it
has initiated a transition from contractor underground mining
at Smokey Hills Mine to Owner Operator mining. The transition
process is being completed with the full cooperation of the
current mining contractor, JIC Mining Services (Pty) Ltd
("JIC"), and is scheduled to be completed by the end of
February.
The decision to move to Owner Operator is the result of
extensive planning and evaluation work completed over a
number of months to determine the most effective operational
model for the Smokey Hills Mine. PLA believes it will be in a
stronger position to meet its production targets and will
benefit from cost savings of 10 to
15% to be achieved over the next three months with the
removal of a number of duplicated management positions and
the contractors' overheads and profit. There is expected to
be minimal disruption to production during the transition and
no significant additional expenditure will be required
Although the mining has been undertaken by contractors since
start up, the ability to move to Owner Operator mining was
allowed for in the development, with all major capital
equipment and mobile plant owned by the mine. In addition,
the PLA management team in South Africa has been
significantly enhanced and has been working on the necessary
systems and procedures over the last few months to enable the
change to be made.
It is planned to retain all sub contractors currently working
on the site, including ProParts Engineering and Manufacturing
(Pty) Ltd, who maintain and operate all mobile equipment,
including the trucks, loaders and jumbo drill rigs which are
owned by the mine. All employees of JIC and the sub
contractors will be offered continuity of employment under
their current terms and conditions.
Platinum Australia would like to record its thanks to JIC for
its efforts over the last fifteen months and its assistance
in the transition process.
PLATINUM AUSTRALIA LIMITED
JOHN D LEWINS
Adam Reynolds/Guy McDougall
Hansard Communications
+44 (0) 20 7245 1100
Media enquiries Australia:John Lewins
+61 8 9324 1491
M: +61 419 910 061
Platinum Australia Limited
Level 3, 18 Richardson Street West Perth Western Australia 6005 Australia
T: + 61 8 9324 1494 F: + 61 8 9226 4259 E: pla@platinumaus.com W: www.platinumaus.com.au
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