Anglo American Platinum Expects Miners To Return To Work

Reuters reported Anglo American Platinum (LSE:AAL) saya miners are expected to return to work on Thursday after accepting a pay deal to end strikes.

As quoted in the market news:

The unit of troubled global mining giant Anglo American has been struggling for two months to end the walkouts, part of a wave of often violent labour unrest that has swept through South Africa’s mines, rattling foreign investors.

The strikes, spawned by glaring income disparities and a union turf war for members, have cost Amplats close to 170,000 ounces in lost platinum production which would fetch around $250 million at current spot prices.

Click here to read the full Reuters report.