Shaft Sinkers, an international shaft sinking and underground construction group, fell to a 52-week low following news that some of its workers at Lonmin's Saffy shaft have gone on strike.
This disruption to operations comes amid strike action elsewhere in South Africa's mining sector.
In a statement the company said: "Management's priority is to maintain safety, peace and stability and to continue constructive dialogue with employees whilst adhering to the Labour's Relations Act."
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
It added that work at the Moab project for AngloGold Ashanti continues to be interrupted due to strike action and warned: "Should the broader on-going industrial action in South Africa's mining industry continue, this may adversely affect the margin earned on the company's South African operations. The company will provide further updates as and when appropriate."
CM
-
Klarna postpones US IPO as Trump's tariffs rattle marketsBuy-now-pay-later lender Klarna has postponed its US initial public offering owing to the market turbulence. It is not alone, says Matthew Partridge
-
Why stagflation now seems like America's "optimistic scenario"Investors have gone into tariff shock, and stagflation could now be the optimistic scenario for the US economy.
