Anglo Americans Attempts To End Platinum Strike Backfire

Financial Times reported Anglo American Platinum (LSE:AAL) is attempting to end stikes that have cost about $277 million as about 40 percent of its operations remain dormant.

As quoted in the market news:

After playing hardball since the unrest erupted at its Rustenburg mines, Amplats offered to reinstate 12,000 dismissed miners, while promising a one-off R2,000 “hardship allowance” for those who returned to work last week.

But instead of the world’s biggest platinum producer being able to resume operations, strikers responded with more defiance. Roads were barricaded and police used tear gas, water cannons and rubber bullets to disperse protesters.