Lonmin to miners: Rock up for work on Monday or you’re fired
The Lonmin violence is "a strike by the poor against the state and the haves" says analyst.
The Lonmin violence is "a strike by the poor against the state and the haves" says analyst.
The actual strike isn’t a deterrent to investors. But certainly the inability to get it under control will be of concern, particularly as this is now the third platinum mine that has seen conflict resulting in deaths this year.
More than just rivalry between unions, the platinum mine violence in South Africa has implications for the ruling ANC alliance.
The lack of excitement haunting the precious metals and mining shares markets over the past year is expected to change in the next few months, says Michael Fowler, senior mining analyst with Loewen, Ondaatje, McCutcheon.
Risk assets are obviously back in favor with investors - possible action by the European Central Bank (ECB) and the US Federal Reserve (Fed) could offer an explanation why.
“There’s a significant discrepancy between domestic gold demand in China and the level of Chinese gold imports and production."
A standoff between hundreds of strikers wielding pangas and sticks at London-listed Lonmin's Marikana mine ended when police began firing on a surging crowds leaving many dead.
The new $1.0 billion term loan, a three-year term loan that will mature on August 10, 2015, has no mandatory amortization payments.
In June, Shanghai Richstone provided $2 million, representing the initial portion of the Financing to the Company, in exchange for 5,405,405 common shares in the capital of Sunridge.
Announced that it has increased the size of its previously announced public offering, on a bought deal basis, to $90 million.