Lonmin Declares ‘Force Majeure’ With Some Contractors

News: UK platinum mining company Lonmin has declared 'force majeure' with some contractors at its South African mines. The move, which is attributed to the effects of ongoing mining strike, is expected to lead to a decrease in business for those contractors as well as affect the country's economy. The announcement, which was made by Lonmin CEO Ben Magara, came after similar moves by platinum producers Impala Platinum and Anglo American Platinum amid a 10-week strike over wages by the Association of Mineworkers and Construction Union.

This article is tagged to:
Sector: Country Risk, Mining
Geography: South Africa

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