Lonmin Workers Strike for a Second Day in South Africa

Reuters reported that a wildcat strike at Lonmin plc’s (LSE:LMI) South Africa-based Marikana mine has now been going on for two days. Moody’s analysts have said that more violence could result in a credit downgrade for the country.

As quoted in the market news:

At Lonmin’s Marikana mine 120km (70 miles) northwest of Johannesburg, several dozen strikers brandishing sticks and branches marched to a dusty football pitch on Wednesday, chanting slogans denouncing the security forces.

Company spokeswoman Sue Vey told reporters that Lonmin had not been issued with any formal demands relating to the two-day walkout at all its 13 shafts. “It seems to be union rivalry,” she said.

Click here to read the full Reuters report.