South African Strikes Resolved At Lonmin, Spread To Gold

Bloomberg reported platinum industry stikes have spread to gold, chrome and iron ore. However Lonmin (LSE:LMI) has resolved its strike.

As quoted in the market news:

The strikes, which began in the platinum industry and spread to gold, chrome and iron-ore operations, have hurt companies already grappling with rising costs. Workers have walked out without heeding legal resolution procedures, leading producers to dismiss or threaten to dismiss employees.

As many as 46 people died in August as workers protested at Lonmin Plc’s Marikana operations before the company agreed to wage increases of up to 22 percent last month.

Click here to read the full Bloomberg report.