London-listed mining groups to shed 12000 workers as China slowdown and forecast US interest rate rise dents pricesTwo London-listed mining groups are to slash up to 12000 jobs as commodity prices slump to levels final seen during the global recession of 2008-09.
Platinum producer Lonmin plans to shut or mothball several mine shafts, putting 6000 South African jobs at risk. Platinum prices have hit a six-and-a-half-year low while power and labour costs in South Africa have increased sharply.
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Source: theguardian.com