All data is delayed
See More

Lonmin shares dive as death toll rises

Aug 17 2012 07:54

Company Data

Lonmin plc [JSE:LON]

Last traded 15
Change 0
% Change 0
Cumulative volume 208876
Market cap 0

Last Updated: 01/01/0001 at 12:00. Prices are delayed by 15 minutes. Source: McGregor BFA

Related Articles

Arms and the marchers

Political parties call for mine violence probe

Uneasy calm at Marikana mine

Mine shoot-out: 3 minutes, 18 bodies

Bloodied corpses litter mine battleground

What were we supposed to do, police ask


Cape Town - Lonmin [JSE:LON] were treating developments at the mine with the utmost seriousness, chairperson Roger Phillimore said in a statement.

"The South African Police Service have been in charge of public order and safety on the ground since the violence between competing labour factions erupted over the weekend," he said.

Lonmin said it welcomed the increased presence of the South African Police Services (SAPS) at the site of the mine, in a statement. The company said it was cooperating fully with the authorities to help restore a safe and secure environment for its employees as quickly as possible.

Lonmin shares were down 7.34%  to R83.70 at last trade.

South African police minister Nathi Mthethwa confirmed on Friday that more than 30 people were killed in a security crackdown on striking miners at Lonmin’s  Marikana platinum mine the previous day.

Asked in an interview on Talk Radio 702 whether he could confirm reports of at least 30 deaths, Mthethwa said “Yes.”

He later clarified: “I’m talking yesterday only.”

As the country reeled in shock at the deaths of Lonmin mine workers in Marikana on Thursday, the company released a statement saying its CEO was ill.

"It is with regret that the company must announce that Ian Farmer, the chief executive officer, has been diagnosed with a serious illness and is presently in hospital.

"The board, on behalf of the entire company, wishes him a full and speedy recovery. Our thoughts are with Ian and his family at this difficult time," Lonmin said in a statement.

It said the day-to-day running of the business would taken by over executive committee member Roger Phillimore.

A shootout between police and strikers at mine in Marikana in the North West ended in at least 18 people dead or wounded.

The count was made by a Sapa reporter on the scene, who said the victims were lying in the veld.

The shooting erupted when police sought to disperse armed striking workers who had gathered on a hill in the area.

* Follow Fin24 on Facebook, Twitter and Google+.

lonmin  |  mining unrest



Read Fin24’s Comments Policy publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
Comments have been closed for this article.

Company Snapshot

We're Talking About...

Savings Month

It's never too late to start saving. Visit our special issue and add your voice.

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

The proposal to nationalise SARB will

Previous results · Suggest a vote