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Platinum Group Metals Production Rises 4.8 Percent
Aug. 09, 2012 11:51AM PST
Precious Metals InvestingBusiness Insider reported production of platinum group metals rose 4.8% in June in South Africa.
Business Insider reported production of platinum group metals rose 4.8% in June in South Africa.
As quoted in the market news:
Platinum’s price increase, the first increase in platinum production in a year may have been due to the nation’s biggest platinum mine ramping up production after a strike.
Impala Platinum Holdings Ltd., whose main Rustenburg mine was halted for six weeks at the start of the year by a battle for control between labor unions, said the operation averaged about 90 percent of capacity in June according to Bloomberg. The strike at the operation cost Impala, the second-biggest producer of the metal, more than 120,000 ounces of output, it said May 29.