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Strike costs Lonmin $95 million so far

BrightWire News | September 8, 2012 | 10:21 pm Base Metals Precious Metals Africa Palladium Platinum

Lonmin has lost approximately $95 million worth of output due to the ongoing strike at its South African operations.

Striking workers are demanding a wage increase to R12,500 ($1,500).

Analysts estimate that the wage increase, if enacted, would wipe out the company’s already thin margins.

Source (English): Reuters India

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