Platinum Miners Strike Results In Deaths, Increases Sector Stress

Reuters reported the death of striking platinum miners is increasing the risks facing the sector as it grapples with low prices and rising costs.

As quoted in the market news:

The South African platinum industry has been hit by a wave of labor unrest, first at Implats’ Rustenburg operations at the start of this year and more recently at Lonmin, which led to police killing 34 striking miners in a hail of bullets last week.

The violent six-week strike at Rustenburg sliced 21 percent off the company’s production for the full year.

Click here to read the full Reuters report.