Labour unrest engulfing the South African platinum industry spread yesterday, prompting fears of a broader mining crisis in one of the main commodity-producing countries.
Platinum and gold prices continued to soar as investors braced for supply disruptions after police killed 34 mineworkers last week at a pit owned by London-listed Lonmin. Clashes between rival unions killed another 10 people.
Anglo American Platinum, the industry leader with about 45 per cent of global supply, said yesterday a group of workers had bypassed their own unions and made a broad range of demands, including on pay, at the end of last week. Miners at Royal Bafonkeng Platinum, a black-owned, mid-tier miner, also demanded pay increases and blocked colleagues from going to work.