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Lonmin Shares, ZAR Slide Following Deja Vu News Of Two South African Mine Workers Shot, One Dead
Don't look now but Lonmin shares are pulling a "summer of 2012", following news from the South African police that two people have been shot at a Lonmin mine, one of whom has died. Expect the now usual kneejerk fireworks to hit the price of platinum as the supply of the precious/industrial metal is once more put in jeopardy. Also, look for more weakness in the ZAR, as the South African economy, already weakened by last year's interminable "wage negotiations", will hardly be able to weather a second year of constant worker strikes following a year in which all of the purported negotiated pay hikes have shown to be transitory.
From Reuters:
A worker was shot dead on Monday at a Lonmin mine in South Africa, the National Union of Mineworkers (NUM) said, in the latest unrest to hit the troubled platinum belt.
The shooting happened near the town of Marikana, 120 km (70 miles) northwest of Johannesburg, where police shot dead 34 miners in a single incident in August last year, the deadliest police action since the end of apartheid.
"One of our members was attacked with a gun in our office at Lonmin's Western Platinum mine," NUM spokesman Lesiba Seshoka said, adding the worker later died.
Police confirmed a shooting at Marikana but said they were still gathering details.
The rand retreated slightly against the dollar after the shooting amid fears of another cycle of violence in South Africa's mining sector.
More than 50 people died last year in wildcat strikes and violence relating to a bloody turf war between the NUM and the rival Association of Mineworkers and Construction Union (AMCU).
Seshoka could not confirm who was responsible for the attack. In the past both unions have accused each other of attacking and killing their members.
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Now get back in there and dig up that worthless shit!
i do not get it - if you do not like the job - leave it. If you can not find enough workers - raise the wages or shut the business down.
Why would anyone get killed if civilized solution is always available
Perhaps for the crime of being black on a Monday morning in SA.
in SA, white is the new Black
>> white is the new Black
How many whites have been gunned down?
+ 5000 farmers.
Debugas sez: "i do not get it - if you do not like the job - leave it. If you can not find enough workers - raise the wages or shut the business down."
You should try it one day.
I hope this doesn't spread to the paper mines.
If we stop the flow of fiat.....we're doomed!
No worries here. Those mines are all digital now.
CIA says those digital mines can only be robbed by Chinese hackers...
Round up all the usual suspects..
And Chinese stealth attack drones spotted for first time.
http://www.youtube.com/watch?v=y0vuy5mTlj4
I'm telling you people. The Chinese are no joke. They have all of our technology and it is operational. The US defense industry was not hacked. It sold out. What that wikileaks private did was nothing compared to the scale of treason that is taking place involving US government contractors and officials.
Calm yourself, sister. The Chinese are the ultimate joke. Their military is rolling this stuff out way too publicly. They want their own people to see that they're not falling entirely behind. They are. It's 2013 and they still can't even make high performance jet engines. Their last manned space mission was when? At the rate they're going they might orbit the moon by the time I retire...
When we need to start ripping off their ideas and designs, then I'll agree with you. Until then, man up and stop worrying...
Do you really believe they have Stealth fighters, but not jet engines? LOL. I can't afford to be delusional.
It's very well known that the Chinese continue to rely on Russia for their high performance jet engines. They can, of course, make copies of those Russian engines, but they are inferior in all ways, and last half as long.
If they can't make high performance engines, that's saying a lot about their actual capabilities.
And by the way, they do not "have" stealth anything. They have a couple different kinds of prototypes, and that's all.
In the seventies, it was called Jap Crap.
By the late 80s, everyone was talking about "Japanese Quality".
I don't know when or how the transition took place. But if you're selling heaps of cheap stuff and making heaps of money (while the quality manufacturers go broke, or at least have to scale downwards as they lose market share), then I guess eventually you can afford to increase quality. And hope that people will notice before they give up on your crap.
I see no reason why the Chinese trajectory would be different.
Ex-Dow Scientist Is Convicted of Selling Secrets in China - http://www.nytimes.com/2011/02/08/business/global/08bribe.html?_r=0
House Chairmen Say NASA May Have Released DOD Secrets To China - http://www.aviationweek.com/Article.aspx?id=/article-xml/awx_02_08_2013_...
Patriot Missiles Seized, Sold To China by Israel - http://www.veteranstoday.com/2011/12/23/breaking-patriot-missiles-seized...
Fort Bragg Navy IT Expert Caught Selling Military Secrets to China - http://www.topsecretwriters.com/2010/12/fort-bragg-navy-it-expert-caught...
GE snubs U.S., sells technology to China - http://www.catholic.org/business/story.php?id=42530
American Engineer Convicted of Selling Military Secrets to China - http://www.foxnews.com/us/2010/08/09/hawaii-jury-convicts-b-stealth-bomb...
Former Northrop Grumman engineer found guilty of selling defense secrets - http://www.bizjournals.com/pacific/stories/2010/08/09/daily6.html
Why bother hacking anything? Just sit by the pool with a pile of US Dollars you probably don't want to hang on to and wait for the phone to ring.
Thanks for those links medium giraffe. Wots that about capitalists again? Selling rope to their enemies ... "Would you like a noose with that? What about a tree? And a bucket? I can even kick it for you!"
The US war machine will come to a halt when they bomb the factories that make their uniforms, supply their food, tyres, engines, electronics ...
You buy the lie? There is a lot of smoke-screen going on, but history repeats. By the way, history repeats....
No problem PT. Disturbingly, those links were the product of about 10 minutes of Googling.
Yep, it's a bit of a dilemma for the US, but little wonder that the Chinese are well informed about US assets when you take apart an F-22 and find Foxconn boards inside...
... but they were cheaper!!! ...
It's time to pack up and move the crew to S.A.
Ghost Mine (TV series) - Wikipedia, the free encyclopedia
Was only reading yesterday about a Union leader in SA saying if he is assassinated there will be someone right behind him to pick up the baton.
Then would you believe it, it's happened.
Could be the start of a uprising, it's been brewing for a while.
Hmmm, rand actually 0.5% stronger today.
The skin color of the bent coppers at the mines has changed but the uniform is the same. The black South African politicians like bribes from mineowners just as much as their white predecessors. Everyone in authority in South Africa is crooked. Just like in the good old USA.
to greatbeard "how many whites have been gunned down?" Do a search of crime South Africa.. Where there is no rule of law everyone suffers. Rule of law??? Rule of jungle? In America the rule of law is very subjective. In S. Africa rule of law is the one wielding the machete rules, only difference. The whole world is turning slowly into one crumbling S Storm but it is usually good to know of what you speak before opening your mouth.