October 23, 2017 / 2:53 PM / a year ago

Platinum miner Lonmin to cut over 1,000 jobs in South Africa - union

FILE PHOTO: Miners look on at the end of their night shift at the Lonmin mine in Rustenburg, northwest of Johannesburg, South Africa, June 26, 2015. REUTERS/Siphiwe Sibeko/File Photo

LONDON (Reuters) - Platinum miner Lonmin (LMI.L) 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.

“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.

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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