Africa, Business, invesment, Invesments, news, Uncategorized, World Bank, World Bank Group

Africa News January 24, 2014 at 02:53PM

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VENTURES AFRICA – JSE-listed platinum miner, Anglo American Platinum (Amplats), on Friday said it had already lost 4000 platinum ounces due to the strike at its operations in Rustenburg, Union and Amandelbult mines.

The world’s biggest platinum producer said this amounted to R100 million ($9m) lost in revenues at current market prices.

This comes after its counterparts, Lonmin and Implats said they expected to lose 3,100 and 2800 platinum ounces a day respectively.

Amplats confirmed that only 10 percent of the workforce managed to come to work since the strike started yesterday. “Attendance rate…remains low,” it said.

It said the situation remained relatively quiet with random breaking of picketing rules agreed to by the mines and the militant Association of Mineworkers and Construction Union (AMCU), which is leading the wage strike action at the platinum mines.

“The company has noted with disappointment, and condemns the increase in, incidences of violence and intimidation taking place around Rustenburg and surrounding communities,” it said on Friday.


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