South Africa’s Platinum Crisis May Lead To More Unrest

Reuters reported the unrest at South Africa’s platinum mines may spread throughout the region.

As quoted in the market news:

South Africa’s mining industry is being sucked into a vicious circle as labor unrest spreads from platinum to gold with steep wage demands neither sector can afford.

Fueled by outrage over the police killing of 34 striking miners last month, the militancy in the world’s top platinum producer is leading to closed shafts and job losses, triggering in turn more union and social tension.

Click here to read the full Reuters report.