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Absenteeism up as Lonmin talks continue

Aug 30 2012 14:40 Sapa

Company Data

Lonmin plc [JSE:LON]

Last traded 0
Change -0,55
% Change 0
Cumulative volume 1076706
Market cap 16.78bn

Last Updated: 29-01-2015 at 03:54. Prices are delayed by 15 minutes. Source: McGregor BFA

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Mine unrest to hit investment

Johannesburg - Lonmin platinum mine's [JSE:LON] work attendance decreased to a 6.6% average at all the company's shafts on Thursday.

"We expect that employees are waiting for the outcome of the peace accord meeting," the company said in a statement.

On Tuesday 8% of the company's 28 000 employees were at work. This fell to 7.7% on Wednesday.

"There has been no increase in intimidation this morning or overnight. No incidents of violence have been reported. Management is appealing to all stakeholders to remain calm."

On Thursday morning, a meeting convened by the labour department and the Commission for Conciliation, Mediation and Arbitration, entered its second day behind closed doors.

Four unions - Solidarity, Uasa, the National Union of Mineworkers, and the Association of Mineworkers and Construction Union - were meeting with worker representatives and Lonmin management in an attempt to broker a truce.

Lonmin said the parties intended bringing peace and stability to the area, and finding a lasting resolution to the matters in dispute.

"We continue to communicate with our employees to reassure them that we are all working together to bring resolution and we encourage them to come back to work," it said.

Workers at the world's third-largest platinum producer went on strike earlier this month, demanding a monthly salary of R12 500. They had vowed not to return to work until their demand was met.

The strike turned violent and 10 people, including two policemen and two security guards, were killed between August 10 and 12. On August 16, 34 miners were killed in a confrontation with the police.

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lonmin  |  mining unrest



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