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

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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.

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“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.

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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

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