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Mining Weekly reported Anglo American (LSE:AAL,JSE:AAL) is reviewing its platinum business after being hit with several government stop work orders.
Mining Weekly reported Anglo American (LSE:AAL,JSE:AAL) is reviewing its platinum business after being hit with several government stop work orders.
As quoted in the market news:
Despite its platinum operating profit increasing to $890-million in the face of 81 safety stoppages, London analysts peppered Anglo American CEO Cynthia Carroll with questions on the turnaround plans for JSE-listed Anglo American Platinum (Amplats), which lost 109 000 oz of platinum to nonfatal Section 54 mine stoppages.
Carroll said that the platinum business faced significant cost inflation, safety stoppages and European demand challenges.