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Mine unrest to hit investment

Aug 30 2012 07:50 Reuters

Company Data

Lonmin plc [JSE:LON]

Last traded 37.50
Change -0.73
% Change -0.02
Cumulative volume 476294
Market cap 21.40bn

Last Updated: 16/09/2014 at 04:27. Prices are delayed by 15 minutes. Source: McGregor BFA

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Perth - Mineral resources minister Susan Shabangu said on Wednesday that a wave of labour unrest and violence in the mining sector that killed 44 people this month will have an impact on potential investments.

"It is a cause for concern.

"The tragedy does impact on any potential investments,” she told reporters on the sidelines of a mining conference in Perth.

The government would not allow a repeat of the strife at the Lonmin platinum mine [JSE:LON] but mining returns could not be made at any cost, the minister said. 

Shabangu also said mine nationalisation could not advance the interests of South Africa.

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lonmin  |  lonmin unrest  |  investments
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