Kumba Iron Expects To Restart Production

Bloomberg reported Kumba Iron Ore Ltd. (LSE:KIO) expects to restart production within days at its Sishen mine in South Africa after a two-week strike at the Anglo American Plc (LSE:AAL) unit ended with police arrests.

As quoted in the market news:

About 300 workers at Sishen downed tools on Oct. 3 to demand higher pay as wildcat stoppages spread from the platinum industry to gold, chrome and iron-ore. Police arrested more than 40 striking Kumba miners yesterday, after the company, which is losing 120,000 metric tons of production a day, brought criminal charges against the workers and recovered 3.3 billion rand ($376 million) of equipment.

Click here to read the full Bloomberg report.