South African-focused platinum producer Lonmin said on Thursday it had trimmed its workforce by over 5,000 in a restructuring triggered by depressed prices.
Lonmin says over 5,000 workers leave after restructuring
Lonmin said most of the workers had left on a voluntary basis. Its share price in Johannesburg was almost 17 percent higher in late morning trade as clarity around the restructuring emerged.
Miners are seen underground at Lonmin Plc's Karee mine in Marikana, Rustenburg 100 km (62 miles) northwest of Johannesburg, March 5, 2013. REUTERS/Siphiwe Sibeko
There has been some confusion over the process after the Association of Mineworkers and Construction Union (AMCU) said on Wednesday that only around 75 Lonmin jobs would be lost.
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