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    Amplats Losing $4.3 Million per Day Due to Strike

    Charlotte McLeod
    Oct. 03, 2013 04:31PM PST
    Precious Metals

    Reuters reported that Anglo American Platinum Ltd. (LSE:AAL) is losing about 3,100 ounces of production per day as a result of the strike affecting its South African operations. That is equivalent to about $4.3 million each day.

    Reuters reported that Anglo American Platinum Ltd. (LSE:AAL) is losing about 3,100 ounces of production per day as a result of the strike affecting its South African operations. That is equivalent to about $4.3 million each day.

    As quoted in the market news:

    ‘The company continues to record a low turnout at its Rustenburg and the North of the Pilanesburg operations, with less than 20 percent attendance,’ Amplats said in a statement.

    The lost output is equal to $4.3 million a day at the current spot price of $1,380 an ounce, according to Reuters calculations.

    Talks with the union to end the strike are continuing, Amplats said.

    Click here to read the full Reuters report.

    lse:aalanglo american platinum
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