Lawyer says there is enough evidence to say the police had planned to shoot miners and not arrest them.
LONMIN PLC Mining News
Despite market rumours indicating otherwise, South Africa’s platinum producer Lonmin (LON:LMI) rejected Friday a reverse takeover bid by Xstrata (LON:XTA), its unhappy largest shareholder, as it announced a loss before tax of $698 million in the financial year ending in September.
South African trade union Solidarity said today that Lonmin would only retrench workers as a last resort.
Almost all the 15,000 Gold Fields Ltd. (NYSE, JSE:GFI) miners at risk of being fired for going on an illegal strike reported for duty, but striking workers at the company’s KDC East operations received a final ultimatum from the company Friday.
Workers at Lonmin's Marikana mine have accepted a 22% pay increase to end more than five weeks of deadly strikes.
Striking miners at Lonmin's Marikana platinum mine rejected a 20% wage increase offer from the company. The offer increases the base pay of an entry level worker to around ZAR 5,500 (USD 660) up from ZAR 4,600 (USD 557.5) at present.
Aquarium Platinum (LON,ASX, JSE:AQP) and Xstrata (LON: ) are the latest casualties of the ongoing labour unrest in South Africa. Both companies announced Friday they have suspended operations, as police swooped on striking protesters.
The gold mining industry has been digging its own grave by telling just half of the real cost story, Gold Fields (NYSE:GFI) CEO Nick Holland told the audience Thursday at this year’s Denver Gold Forum in Colorado.
Striking Anglo Platinum workers have blocked roads leading to shafts owned by the miner. Anglo Platinum is the largest platinum producer in the world.
The South African economy has struggled over the past few weeks as reports of unrest in the country’s mines drove down the equities of most local miners.
South African prosecutors have temporarily withdrawn murder charges against the 270 miners accused Thursday of killing 34 striking colleagues shot dead by police at the platinum miner Lonmin's (LON:JSE) Marikana mine, but warned they could be recharged when inquiries were complete.
Two weeks after South African police opened fire on a group of 3,000 workers and killed 34 people protesting at the platinum miner Lonmin's (LON:JSE) Marikana mine, prosecutors are bringing murder charges against a unexpected group of suspects: the miners themselves.
Lonmin Plc (LMI), the third-largest platinum producer, started a prefeasibility study on a third furnace as part of preparations for possible expansion beyond its current 2015 production target.
Miner Lonmin LMIJ.J (LMI.L: Quote) said on Friday that there was unspecified industrial action taking place at its Marikana operations in South Africa by members of the National Union of Mineworkers (NUM). "Lonmin announced today that it is currently experiencing unprotected industrial action by NUM members at the Karee operations of its Marikana operations. As a result, production at Karee has been disrupted since the night shift of Tuesday 17th May," it said in a statement.
Susan Shabangu, announced a major overhaul of South Africa's mining legislation, Tuesday and added ICT and Lonmin matter to be taken to the cabinet.
Lonmin has signed two contracts to construct chrome recovery plants at its Marikana platinum operation in South Africa, enabling it to gain chrome by-product revenues