Platinum miner Lonmin to cut over 1,000 jobs in SA: union

PUBLISHED: Tue, 24 Oct 2017 08:01:58 GMT
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LONDON (Reuters) – Platinum miner Lonmin plans to cut over 1,000 jobs before Christmas, South Africa’s Solidarity union said on Monday, due to persistently low commodity prices and rising costs.

http://cnbc.africa/news/southern-africa/2017/05/15/lonmin-move-johannesburg-office-marikana-operations/

“Because of these cost pressures, Lonmin has decided to place a number of its marginal shafts under care and maintenance and that is the reason why the 1,139 workers will be affected,” Solidarity, which represents mainly skilled workers, said.

http://cnbc.africa/news/2016/02/10/lonmin-merger-or-takeover-ceo/

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London-listed Lonmin, whose mines are all in South Africa, is also battling a strengthening South African currency and numerous operational issues.

Reporting by Zandi Shabalala; Editing by Susan Fenton