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Lonmin says over 5,000 workers leave after restructuring

Reuters - UK Focus

JOHANNESBURG, March 3 (Reuters) - South African-focused platinum producer Lonmin (LSE: LMI.L - news) said on Thursday it had trimmed its workforce by over 5,000 in a restructuring triggered by depressed prices.

There has been some confusion over the process after the Association of Mineworkers and Construction Union (AMCU) said on Wednesday that only around 75 Lonmin jobs would be lost.

Lonmin said most of the workers had left on a voluntary basis. Its share price in Johannesburg was almost 17 percent higher in late morning trade as clarity around the restructuring emerged. (Reporting by Ed Stoddard; Editing by James Macharia)