Lonmin Fears Firing Striking Miners Will Provoke Violence

Reuters reported Lonmin (LSE:LMI) backed down from its threat to sack 3,000 striking mine workers, fearing the move could provoke more violence.

As quoted in the market news:

Most of the strikers, who faced a Tuesday ultimatum to return, stayed off the job as police helicopters hovered over Lonmin’s Marikana mine, about 100 km (60 miles) northwest of Johannesburg.

Hit by lost production and revenues, the company said it may issue new shares “to strengthen its financial structure”.

Click here to read the full Reuters report.

Get the Latest Platinum Investing Stock Information

Get the latest information about companies associated with Platinum Investing delivered directly to your inbox.

Other Companies

By selecting company or companies above, you are giving consent to receive email from those companies. And remember you can unsubscribe at any time.


Leave a Reply