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Amplats output hit by strikes

Oct 25 2012 08:18
Reuters

Striking Amplats mineworkers. (Lucky Nxumalo, City Press

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KUMBA IRON ORE LIMITED [JSE:KIO]

Last traded 90
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Last Updated: 28-08-2015 at 05:00. Prices are delayed by 15 minutes. Source: McGregor BFA

Anglo American Plat Ltd [JSE:AMS]

Last traded 323
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Cumulative volume 524584
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Last Updated: 28-08-2015 at 05:00. Prices are delayed by 15 minutes. Source: McGregor BFA

ANGLO AMERICAN PLC [JSE:AGL]

Last traded 150
Change 3
% Change 2
Cumulative volume 2954176
Market cap 0

Last Updated: 28-08-2015 at 05:05. Prices are delayed by 15 minutes. Source: McGregor BFA

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Johannesburg - Anglo Platinum [JSE:AMS] said on Thursday that strikes at its operations and some of its joint venture partners had resulted in total lost production of 138,000 ounces.

The world's largest producer of the precious metal said that strikes cost it 42,000 ounces in the third quarter and a further 96,000 ounces from the beginning of October to date.

As a result, third quarter refined platinum production was flat year-on-year 649,000 ounces.

The platinum producer has also cut its capital expenditure for a second time this year to bring its 2012 spending target to R6.5bn. 

Kumba Iron Ore [JSE:KIO], another unit of Anglo American [JSE:AGL], said in a statement it is battling to ramp up its production at its Sishen operations in the Northern Cape province after a two-week strike halted production this month.

Kumba said so far it has lost about 2.2 million tonnes of finished product at Sishen mine. 


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