Amplats Cuts Platinum Forecasts

Bloomberg reported Anglo American Plc (LSE:AAL) cut its platinum output forecast after strikes in South Africa and says it will overspend again on its Minas-Rio iron ore project.

As quoted in the market news:

Anglo American Platinum Ltd. (AMS) targets production of 2.2 million to 2.4 million ounces for 2012, it said in a statement today, compared with a July figure of 2.4 million to 2.5 million ounces. Pay strikes in South Africa also cut output at Anglo’s Kumba Iron Ore Ltd. (KIO) unit by 2.2 million metric tons.

Click here to read the full Bloomberg report.

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