Rand slumps as strikes spread

South Africa's currency has slid as foreign investors have grown fearful of the violence affecting the country's mining industry.

As fears of strikes in the mining sector intensified, South Africa's currency, the rand, slumped to a three-year low against the dollar. The industry has seen the worst unrest since the end of apartheid in 1994, with over 30 workers killed at platinum mines owned by Lonmin in August and strikes then hitting gold and iron-ore producers. Tensions could escalate: two mines have dismissed thousands of strikers.

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