Platinum Falls Two Percent, Strikers Accept Pay Offer

Reuters reported platinum fell 2 percent following news that striking platinum miners at South Africa’s Lonmin (LSE:LMI) mine accepted a pay offer.

As quoted in the market news:

After trading mostly higher early in the session, the metal suddenly nose-dived over $50, or 3 percent, within 10 minutes in response to news of the agreement at Lonmin’s Marikana mine..

The metal, mostly consumed as an autocatalyst, posted its largest two-day decline since March, as No. 1 producer Anglo American Platinum also said it had resumed operations in the strike-hit Rustenburg area.

Click here to read the full Reuters report.