MTX Metorex

    METOREX LIMITED

(Incorporated in the Republic of South Africa)

(Registration number 1934/005478/06)

ISIN: ZAE000022745

JSE Code: MTX

Issuer code: MEMTX

Announcement

Shareholders are informed that Consolidated Murchison, a division of Metorex
Limited ("Cons Murch") has entered into consultation with the relevant Trade
Unions under the auspices of the Commission for Conciliation, Mediation and
Arbitration ("the CCMA") regarding the possible retrenchment of approximately
400 employees.

Due to the international decline in demand for Antimony and the decrease in
Antimony prices from approximately $6500 to $5000 per ton, management has
initiated a review of the cost profile of Cons Murch, of which 50% are labour
related.

An initial assessment has revealed, inter alia, that the changing of the mining
methods from open stoping to mechanized cut and fill, as well as increased
focus on gold production will contribute to the sustainability and
profitability of the Cons Murch operations. As a result Cons Murch has issued a
letter of intent to the relevant Trade Unions and the CCMA regarding the
possible retrenchment of 400 of the 1500 employees currently employed by Cons
Murch.

4 December 2008

Johannesburg

Sponsor: Barnard Jacobs Mellet Corporate Finance (Pty) Ltd



END

Metorex (LSE:MTX)
Gráfica de Acción Histórica
De May 2024 a Jun 2024

Metorex (LSE:MTX)
Gráfica de Acción Histórica
De Jun 2023 a Jun 2024