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Anglo American Declares Loss on Strikes, Rising Costs
Feb. 04, 2013 01:49PM PST
Precious Metals InvestingBloomberg reported that the biggest producer of platinum, Anglo American Platinum, reported a headline loss for 2012. Last month the company proposed to shut down four of its mineshafts in order to stem losses brought about by a two-month strike and also to curb operating costs.
Bloomberg reported that the biggest producer of platinum, Anglo American Platinum, reported a headline loss for 2012. Last month the company proposed to shut down four of its mineshafts in order to stem losses brought about by a two-month strike and also to curb operating costs.
As quoted in the market news:
Anglo American Platinum had a so-called headline loss excluding one-time items of 1.47 billion rand ($166 million), or 5.62 rand a share, from a profit of 3.57 billion rand, or 13.65 rand a share, the Johannesburg-based company said in a statement today. The average estimate of seven analysts surveyed by Bloomberg was for a loss of 5.59 rand a share. The company last year skipped its interim dividend.