Job Cuts At Lonmin May Reignite Strike

Reuters reported Lonmin’s (LSE:LMI) recently announced job cuts may lead to another strike between platinum miners and management.

As quoted in the market news:

The world’s third largest platinum producer, Lonmin is scrambling to get back on its feet after a violent six-week strike at its Marikana mine that crippled production and led it to ask shareholders for $800 million in a rights issue on Tuesday.

It also gave unions notice of a restructuring, with proposed job losses in its 25,000-strong work force expected to be implemented in early 2013.

Click here to read the full Reuters report.