Platinum miner Lonmin has announced that it is losing 3,400 oz of platinum production per day while strike action continues.

The company has been hit by a strike carried out by National Union of Mineworkers (NUM) members at its Marikana operation in response to concerns over the implementation of a new payment system at the firm.

The NUM argues that some of its members have received the wrong wages or have not been paid at all because of problems with the payment system and as such it has been carrying out the industrial action since August 19th.

Lonmin said the impact that the strike will have on its full-year sales to September 2007 and 2008 will be considered once the dispute is resolved and the workers return to the mine.

The firm added that it is "committed to resolving" the problems which have resulted in the walkout.

Source:

Industrial action at Marikana Operations, 21/08/07
http://www.lonmin.com/news.aspx?pageid=99&pressID=171

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