More platinum wealth lies beneath South African soil than anywhere else on Earth, and for decades the companies that extracted the precious metal promised to help improve the lives of the impoverished people who live above their mines. Those communities are getting tired of waiting.
Demonstrations by residents around mines — many living in improvised shacks without running water — have disrupted operations run by producers including Impala Platinum Holdings Ltd., Lonmin Plc and African Rainbow Minerals Ltd.
The protesters demanded jobs and money, saying that investments outside of the mines haven’t been enough. Last month, a bus that ferries Lonmin workers was torched, forcing the company to halt operations at two shafts. Continue Reading →