SHARES in mining giant Lonmin fell for the sixth day running yesterday after a third of the workforce returned to production at the South African mine at the centre of the violence that saw 34 people shot dead.
The company said in a statement that it had extended the deadline for miners to return to work from Monday to today .
Lonmin had ordered 3,000 illegally striking rock drill operators to return to work yesterday or risk losing their jobs at its Marikana mine.
The company, once the former African Lonrho business run by controversial businessman “Tiny” Rowland, had also appealed to a further 25,000 staff and 10,000 contractors to report for duty after police said it was safe.
Sources said yesterday that at first only about a quarter of its 28,000 workforce turned up as fears remained of more potential bloodshed. But they said that the group was able to restart production on a greatly reduced scale.
Lonmin shares closed down a further 4.6 per cent, or 29.5p, at 610p following a fall of 15 per cent last week after the biggest outbreak of South African state-linked violence since apartheid ended in 1994.
Mark Munroe, Lonmin’s executive vice-president for mining, said: “What has happened here has been a tragedy, and the pain and anger it has led to will take time to heal.
“But those representing the vast majority of our workforce have been clear that we need to try to return to some kind of normality as we go through that healing process.”
Deutsche Bank downgraded Lonmin’s shares yesterday from “hold” to “sell” following reports the miner is weighing up a $1 billion (£640 million) emergency fundraising move.