Implats’ Earnings to Suffer Due to Strike

Mineweb reported that the profits of Impala Platinum Holdings Ltd. (OTCMKTS:IMPUY) may fall as much as 77 percent due to the adverse effects of a mining strike by workers at its South African operations.

As quoted in the market news:

Basic earnings per share will probably range from 0.33 rand and 0.48 rand a share in the six months ended Dec. 31, or 67 percent to 77 percent lower than the same period in 2013.

The Johannesburg-based company stated that the drop in earnings is:

…primarily due to lower production from Impala Rustenburg, impacted by the ramp-up of operations to reach full capacity following the five-month strike compared to an uninterrupted first half of the previous financial year.

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