In South Africa: Anglo American’s Platinum Output Falls by 40 Percent

SA Anglo Platinum Miners Strike
SA Anglo Platinum Miners Strike

Reuters reported on Thursday that Anglo American PLC (LSE:AAL) saw its platinum production drop by 40 percent this quarter following a five month strike at its South African mines. The drop somewhat stole the spotlight from higher iron ore and copper production from the miner, according to Reuters.

As quoted in the publication:

“Anglo’s shares fell as much as 1.8 percent in early trading after the miner reported a 40 percent drop in platinum output for the second quarter, the result of lost production at its key mines in South Africa. The decline, which is expected to damage first-half earnings, masked a slight increase in production of iron ore, the biggest money earner for Anglo last year.”

Advertisements

This site uses Akismet to reduce spam. Learn how your comment data is processed.