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Shares in African miner Lonmin dive after violence

February 16. 2013 4:52PM
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(AP) Shares in South African miner Lonmin are falling, down as much as 8 percent after another day of violence at the company's platinum mining complex where police opened fire on striking miners, killing more than 30.

Lonmin shares fell as much as 8 percent to 595 pence in early trading Friday before recovering some ground. The company's share price has fallen nearly 12 percent between Monday and Thursday. Wiping some 232 million pounds ($364 million) off the company's market value.

Alison Turner, an analyst at Panmure Gordon & Co., says Lonmin's shares have also been hit by news that Chief Executive Ian Farmer is hospitalized with a serious illness.

Associated Press

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