Rustenberg Platinum Mine May Reopen Next Week

Bloomberg reported miners on strike at Impala Platinum’s (JSE:IMP) Rustenberg mine are planning to return to week next week.

As quoted in the market news:

Impala Platinum Holdings Ltd. (IMP) may restart the world’s biggest platinum mine next week after employees agreed to return to work, ending a four-week stoppage that cut global supplies by more than 100,000 ounces.

The stoppage cut global supplies of the the metal, used in cars and jewelry, by 3,000 ounces daily, costing Impala more than 2 billion rand ($270 million) of revenue. Mines restart gradually after a stoppage and take time to revert to full production. Impala’s Rustenburg mine produces about 12 percent of global output of the metal.

Click here to read the full Bloomberg report.