Gecamines offers $1 million to block Chinese deal with cobalt miner Chemaf
Chemaf agreed to sell its assets to Chinese defence and industrial giant, China North Industries Corp, or Norinco in June.
Lonmin has lost approximately $95 million worth of output due to the ongoing strike at its South African operations.
Striking workers are demanding a wage increase to R12,500 ($1,500).
Analysts estimate that the wage increase, if enacted, would wipe out the company’s already thin margins.
Source (English): Reuters India
