Lonmin Mine Disaster

Police and violent mineworkers confrontation
Police Services
Garankuwa - A total of 259 Marikana protesters were expected to appear in the Garankuwa Magistrate's Court today on various charges which include murder, attempted murder, armed robbery, public violence and more.
This is according to SA Police Services captain Dennis Adrio who told Sapa the protesters were arrested on Thursday following the violent confrontation between police and striking workers of Lonmin's platinum mine in Marikana, North West.
A total of 34 people were killed in the shoot-out that erupted near the mine on Thursday when police tried to disperse striking miners. More than 78 people were injured. Another 10 people had by then been killed in violent protests at the mine over the past week.
The protests were believed to be linked to rivalry between the National Union of Mineworkers (NUM) and the Association of Mineworkers and Construction Union (Amcu) over recognition agreements at the mine. Workers also wanted higher wages.
Lonmin Marikana mine is South Africa’s third-largest platinum producer and last week’s violence has dealt a severe blow to the country’s already struggling platinum industry.
Nomura International director of emerging markets economist Peter Attard Montalto statedlast week already that rating agencies have also been commenting that the nunrest had a bad impact on investor confidence. Earlier this month Nomura International analyst Tyler Broda questioned the survival of certain participants in the platinum industry, as many South Africa producers were in a difficult position with existing operations becoming less profitable and investment less attractive.
Lonmin’s loss of 15 000 ozlast week is unlikely to dent the chronic oversupply that faced the industry,which is in excess of 750 000 oz, on the back of a 4.2% fall in demand to 7.8-million ounces in 2012. Nomura has forecast that 2015 would see a cumulative surplus of over one-million ounces.
 
Nomura has pointed out that Lonmin, as the highest-cost producer, needed a material fundraising or growth push, or it could be the first of the South Africa platinum producers to “break”. 
Court of Law
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