STOCKS NEWS EUROPE-South African labour woes weigh on Anglo
Shares in miner Anglo American fall more than 2 percent as wildcat strikes in South Africa's mines spread to iron ore, with some 300 workers at the mining group's Kumba Iron Ore subsidiary downing tools.
Anglo, which gets roughly half its group-level profit from Kumba, is already battling labour trouble at mines owned by its platinum arm, Anglo American Platinum , or Amplats. Worker attendance at Amplats' Rustenburg mines has fallen to below 20 percent.
"An extended disruption at Kumba is clearly negative for Anglo American, particularly on top of the Anglo Platinum issues and lower production from the copper unit," Goldman Sachs analysts write in a research note.
Shares in Anglo, down 10 percent since strikes began in August, are down just over 2 percent at 1,837 pence at 1250 GMT, underperforming a flat UK mining sector and a 0.1 percent rise in the FTSE .
As many as 75,000 miners, or 15 percent of the South African mining sector's total workforce, are already on strike.
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