Bus-Burning Protesters Are Latest Threat to Lonmin Comeback
- Miner has closed two shafts on concern for workers’ safety
- ‘Every ounce of production lost really hurts,’ Investec says
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Just as Lonmin Plc Chief Executive Ben Magara puts out one fire, another one lights up.
After Lonmin spent 70 percent of its cash in the last three months of 2016 following a labor dispute at the platinum miner’s biggest shaft, Magara, 49, donned a hard hat and mining overalls to meet workers every day in February to ease tensions. The efforts proved successful and he reported in March that production was back on track.