[miningmx.com] – SOUTH Africa’s platinum sector would not reflect positively on the 21-week long strike which has left workers only slightly better off and mining firms facing months repairing damage to their businesses, said Bloomberg News citing a report by Goldman Sachs analyst, Eugene King.
“We believe the deal is only slightly improved for workers compared to the offer which was proposed within a month of the strike,’ said King. “Mines will be damaged as panels will have collapsed, while organizing and retraining workers will take time.’
“Lonmin will likely rebound strongly post-strike as inventory can be converted to cash quickly and the mining restart will see concentrate coming through’ in the next two months, King wrote.
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