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South African authorities said that 34 "protesters" at a platinum mine were killed after police opened fire on the striking workers. The mine is owned by London-listed Lonmin PLC, the world's third-largest producer of platinum. The Financial Times reports that the violence began a week ago and that 10 people, including two policemen, had been killed in earlier fighting. The shocking violence in South Africa has had an impact on platinum prices and on the share price of U.
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Several weeks ago, the platinum producing company that started it all (after police killed 34 of its striking workers at its Marikana South African mine) Lonmin, conceded and agreed to a 22% wage hike. In doing so it once again prov... Read Post

South African miners striking at Lonmin Plc — the world's third largest platinum mine — have accepted managements latest offer and will return to work on Thursday, the Associated Press and Reuters report. It is unclear if both the N... Read Post

South African police have opened fire on thousands of striking miners near Lonmin's Marikana platinum mine.A Reuters cameraman said he saw at least seven bodies on the ground at the scene.Lonmin is the world's third largest platinum... Read Post