Reuters: Global Markets: Lonmin shares fall after violence at South Africa mine

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Lonmin shares fall after violence at South Africa mine Aug 14th 2012, 08:58 JOHANNESBURG | Tue Aug 14, 2012 4:58am EDT JOHANNESBURG (Reuters) - Shares in world No. 3 platinum producer Lonmin (LMI.L) (LONJ.J) dropped almost 5 percent in London and 4 percent in Johannesburg on Tuesday after violence caused by union infighting disrupted operations and killed 9 people at a South African mine. Police reinforcements including armored vehicles were deployed at the Marikana operations about 100 km (60 miles) northwest of Johannesburg. Two policemen were among those killed in the violence. "Production has been severely disrupted since Friday 10 August as a result of an illegal strike by rock drill operators and increased incidences of violence and intimidation since then," the company said in a statement. "Lonmin will make further announcements as matters develop and as the impact on production and operations becomes clearer," it added. The violence which has spread from other mines is the deadliest so far involving a struggle for membership between the dominant National Union of Mineworkers (NUM) and the upstart Association of Mineworkers and Construction Union (AMCU).

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