Platinum Mines Brace for Biggest Stoppage Since 2012 Clash
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The world’s largest platinum miners are bracing for the most severe labor turmoil since 44 people died during a strike at Lonmin Plc in August 2012.
At least 70,000 members of the Association of Mineworkers and Construction Union plan to walk out over pay on Jan. 23 at mines in South Africa’s platinum belt run by Anglo American Platinum Ltd., Impala Platinum Ltd. and Lonmin. The area accounts for about 70 percent of global output of the precious metal, whose price advanced to the highest level in more than two months today amid concern a strike will hobble supplies.