The 19 workers entered the mine without permission and put their own lives at risk by digging at the Kamoto industrial site, one of the world’s biggest cobalt mines, Glencore said in a statement on Thursday. There are possibly more unconfirmed fatalities, and a search and rescue operation is ongoing.
The shares closed down 4.9% at 263.90 pence on Thursday. The company said the accident won’t affect production or its other operations in the area. Glencore operates the sprawling Kamoto mine through its Katanga Mining Ltd. subsidiary in southeastern Congo, home to some of the world’s richest reserves of cobalt and copper, as well as the poorest people. Glencore halted sales of cobalt from the mine last year due to low levels of radioactivity, but has since restarted some shipments.
Workers will go to extreme lengths to break into mine sites, sometimes tunneling underneath walls, and put themselves in dangerous situations. Congo deployed troops to protect China Molybdenum Co.’s Tenke Fungurume mine from illegal miners, Reuters reported earlier this month.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
United States United States Latest News, United States United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
BUSINESS MAVERICK OP-ED: Horticulture is blooming, but there’s still room for growthHorticulture has boosted employment in the agricultural sector, which needs to be more focused on exporting to untapped markets.
Source: dailymaverick - 🏆 3. / 84 Read more »
Business Maverick: Apple design chief Jony Ive, Steve Jobs’ confidant, to leave and start own firmJony Ive, a close creative collaborator with Apple Inc co-founder Steve Jobs whose iPhone and other designs fueled Apple's rise to a $1 trillion company, will leave later this year to form an independent design company. Do not compete?
Source: dailymaverick - 🏆 3. / 84 Read more »
BUSINESS MAVERICK INVESTIGATION: Video Surveillance and Cybersecurity (Part Two): Chinese cyber espionage is a real threatChinese surveillance giant Hikvision has sold thousands of security cameras in South Africa and soon Joburg’s suburbs will see an unprecedented increase of Hikvision’s presence. But their products, along with Huawei and ZTE, face a ban in the United States following rising fears of Chinese cyber espionage. Unlike the US, however, South Africa’s State Security Agency – with its own shady past – has enjoyed a close relationship with China’s security forces. Daily Maverick delved into the details of the US ban and discovered chilling implications for South Africans.
Source: dailymaverick - 🏆 3. / 84 Read more »
BUSINESS MAVERICK: Fund managers concerned about unintended consequences of Naspers Amsterdam listingNaspers is planning to list its international businesses on Euronext Amsterdam in the next few months, but the listing could have a perverse effect on local and foreign fund indexes. One of the claimed advantages is that the unbundling will decrease the way the tech company dominates the JSE’s indexes, but fund managers are concerned the effect could, in fact, be the opposite.
Source: dailymaverick - 🏆 3. / 84 Read more »