Lonmin Mine Facing Bankruptcy
Lonmin mine is struggling and may even soon be facing bankruptcy as the world witnessed first hand the British company’s slave camps in South Africa. Reports are coming in through businessweek.com that the company will soon be facing struggles when they attempt to refinance on debts.
Business Week reports: Lonmin Plc (LMI), the platinum producer that’s shut its biggest mine after violence killed 44 people, may struggle to refinance loans following labor unrest and a slump in the price of the metal, BMO Capital Markets Ltd. said.
The company chart is incredible. During a booming time period “after” the apartheid, Lonmin snuck into to South Africa to capitalize on the opportunity for extremely low labor costs for very dangerous jobs. A British company with the backing of the homeland and the predominantly British wealthy elite in the South African land, Lonmin mining has made some very rich individuals. During the British rule of South Africa, almost all of the land in the country with resources available was stolen and sold to British or other investors.
Lonmin mine is currently trading for around $625 per share after reaching near highs of $4300 per share. It certainly makes you wonder looking at the graph if there is ever going to be a way to return what Britain has stolen from the people of South Africa during their colonization and now during their corporate ownership of the land and resources that is enforced with trained British military personnel.
The horrific video of the South African protest at the Lonmin mine that resulted in numerous deaths is evidence of heavy British influence and military presence.