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Bushveld Minerals reports that an unprotected industrial action at its Vametco operation has temporarily stopped production with effect from the morning of 16 April 2021.

It is understood that the unprotected industrial action is in relation to expectations of payments under the Employee Participation Plan (EPP) at Vametco, however, the Company is yet to receive a formal notice from organised labour.

The Company recently concluded an EPP with the recognised labour union. The Plan is designed to provide a framework whereby employees, excluding Senior Management, can share in the favourable performance of the Company.

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This is in addition to production related bonuses employees receive during the ordinary course of the year. The expectations for payments are not in keeping with the EPP recently signed.

In keeping with the Company’s active employee and stakeholder engagement policy, the Senior Management team has held a series of meetings with representatives of the recognised trade union at Vametco, the Association of Mineworkers and Construction Union (AMCU), during which it was agreed that all reasonable steps would be taken to urge employees to safely return to work.

The Company continues to engage with representatives of AMCU to resolve the unprotected industrial action.