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Memorials held for South African miners

Striking platinum miners gathered yesterday at Lonmin's Marikana platinum mine
Striking platinum miners gathered yesterday at Lonmin's Marikana platinum mine

Memorials have taken place across South Africa to remember the 44 victims of the bloody confrontation between striking South African miners and police last week.

Preparations for the memorials began during the early morning hours, while police monitored and checked cars en route to the mining site.

Labour unrest in South Africa's platinum belt spread yesterday, raising concerns that anger over low wages and poor living conditions could generate fresh violence.

Last week, 44 people died at Lonmin's Marikana mine, 34 of whom were shot by police.

The deaths came after clashes between the National Union of Mineworkers (NUM) and the breakaway Association of Mineworkers and Construction Union (AMCU), which now threaten to spread to other operations.

The strike at the Marikana mine has driven up platinum prices and stoked worries about investing in Africa's biggest economy, where chronic unemployment and income disparities threaten social stability.

The bloodshed has already sent platinum to its highest price in three-and-a-half months.

Signs of the turf war between unions spreading look set to lift prices further as investors refocus on supply risks rather than feeble demand.

Swiss bank UBS said the situation in South Africa could take weeks to resolve.

It estimated a loss of platinum production from the unrest of up to around 70,000 ounces, and flagged potential for trouble to spread to bigger producers.