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Anglo American to re-open Rustenburg mines

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Amplats, Anglo American’s (LON:AAL) platinum business, is to restart operations at its Rustenburg operations after industrial unrest among mine workers forced their closure last week.

Anglo took the decision to shut down production in the area because of fears for the safety of employees, but said today the situation in the area was calm.

"The situation in Rustenburg remains calm and our current intention is to resume operations on Tuesday morning, which will provide time for the government to implement further security measures," the company said in a statement.

Xstrata (LON:XTA) resumed operations at its chrome mine near Rustenburg today despite reports on intimidation of some workers over the weekend. Aquarius Platinum’s (LON:AQP) Kroondal mine also resumed production. 

South Africa’s platinum producing zone has been in turmoil following the death of 34 striking miners at the hands of the police outside Lonmin’s Marikana mine in August.

Platinum prices have also risen sharply due to worries over possible supply shortages and also to the latest round of monetary easing announced by the US authorities on Thursday. 

Since the start of trouble at Lonmin, the price of the metal has risen by almost a quarter.

Police in South Africa have promised a crackdown on the miners involved to bring the unrest to an end.

 

 

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