Spot Platinum Rises, Anglo American Platinum Loses 3,694 Ounces A Day

Reuters reported spot platinum rose 0.2 percent as Anglo American Platinum (LSE:AAL) announced it does not have enough staff to resume operations and continues to lose 3,694 ounces a day in production.

As quoted in the market news:

Among other precious metals, spot platinum was up 0.2 percent at $1,563.75 an ounce, and palladium was up 1.5 percent at $609.22 an ounce. Silver was up 0.2 percent at $32.26 an ounce.

Anglo American Platinum said it did not have sufficient staff at its strike-hit mines in South Africa to operate as workers had not yet accepted a company offer to reinstate sacked miners and return to work.

The world’s top platinum producer said it was losing an average of 3,694 ounces of platinum per day due to the strike, which is now in its seventh week. To date, 141,640 ounces of platinum have been lost, it said.

Click here to read the full Reuters report.