South African platinum mine shut down after deadly union clashes

[alp227]

Source: The Guardian

The world's third-biggest platinum producer has shut down its South African operations after violent clashes left at least nine people dead at its principal mine.

Lonmin's shares dropped almost 5% in London and 4% in Johannesburg as production ceased due to a turf war between rival trade unions.

Protests at the Marikana mine, 60 miles north-west of Johannesburg, began last week when workers walked out seeking a pay increase to 12,500 rand (£976) a month. The trouble intensified over the weekend, driven by a wider feud between two unions.

Read more: http://www.guardian.co.uk/world/2012/aug/14/south-africa-lonmin-platinum-mine-clashes

[Panasonic]

1. Should I corner the market on platinum

for smelting?

Will the price go skyrocketing because of this?