Lonmin plans to cut 4,100 workers
Rustenburg – Lonmin plans to cut 4,100 workers at mines that have run out of profitable ore and are being closed.
The platinum producer has started a process that’s required under South African labour law to carry out the workforce reductions.
The layoffs will come from six old mines that have run out of commercially viable ore. The cuts are part of Lonmin’s plan to trim its staff and lower costs at its deep-level mines.
In a press release on its second quarterly production report and business update on 17 May, Lonmin stated that it has not been able to fund the significant investment required to maintain its production profile, hence the previously announced shaft closures and job losses.
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