Platinum Spikes Following Report Of People Shot Outside Amplats South African Mine

Tyler Durden's picture

The tender (and doomed to fail) truce obtained several months ago between miners and platinum mining companies is formally over, following reports from Johanesburg that at least five workers have been shot outside of the the Rusetenberg mine by security officials during a standoff between rival unions.

  • FIVE WORKERS AT AMPLATS MINE SHOT OUTSIDE RUSTENBURG: ENCA
  • 5 SOUTH AFRICAN WORKERS SHOT BY MINES SECURITY, ENCA REPORTS
  • S. AFRICA POLICE HAVE RECIEVED REPORTS MINERS WERE SHOT :AMS SJ
  • S. AFRICA POLICE: DEATHS, INJURIES AT AMPLATS MINE UNCO

Reuters adds: "Johannesburg - At least five workers were shot on Monday after security guards at an Anglo American Platinum mine in Rustenburg opened fire following clashes between rival union factions, eNCA television said. The station said it believed one worker at the Siphumelele shaft had been killed."

Platinum spikes immediately on the news:

As for shares of Amplats, imagine the inverse.

  • AMPLATS FALLS AS MUCH AS 4.6% AFTER REPORTS OF MINE SHOOTING