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/
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