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Platinum miner Lonmin to cut over 1,000 jobs in South Africa - union
October 23, 2017 / 2:53 PM / a month ago

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

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.

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

“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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