As expected, mining operations have resumed at Aquarius Platinum's Kroondal platinum mine, located near near Rustenburg in South Africa, where tensions have been running high as a result of violent labour disputes.
Aquarius temporarily suspended mining operations on the afternoon of Friday, 14th September 2012 to ensure the safety and security of employees and assets given the rising tensions and protests within the regional workforce and communities. Processing operations at Kroondal were not materially affected.
Xstrata's chrome mine near the city also resumed production on Monday. Anglo American Platinum (Amplats) said work would resume at its strike-hit Rustenburg mines on Tuesday.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Aquarius went out of its way to commend the South African government and South African Police Services "for its intervention and support over the week-end". Police launched an offensive to disarm miners and bring to an end five weeks of often violent protests which have interrupted mining in the area.
Despite the succession of mining companies releasing notifications of the resumption of mining activities, it is far from a case of a return to normal, with conditions in the region still reportedly tense.
South African daily The Times reports that a representative of one group of striking workers described Amplats' claim that production would resume on Tuesday as a "joke".
JH
-
House prices rise 2.9% – will the recovery continue?House prices grew by 2.9% on an annual basis in September. Will Budget policies and ‘higher-for-longer’ rates dent the recovery?
-
Nvidia earnings: what to expectNvidia announces earnings after market close on 20 November. What should investors expect from the semiconductor giant?
