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.

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