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Strike hit Anglo American Platinum has reported an operating loss of R6.3 billion.
CEO, Chris Griffith, said today that the results represent a 180% reduction, from a profit of R7.9b in 2011, for the year ended December 31st 2012.
Headline earnings per ordinary share decreased year-on-year to a loss of R5.62 in 2012, from a profit of R13.65 in 2011.
Griffith says this was primarily due to lower sales volumes, the impact of
higher mining inflation on costs and lower realised metal prices.
Platinum sales volumes for the period were lower, primarily due to the two-month long illegal strike during the second half of 2012.
"If South African platinum production returned to pre-strike levels, then the market would be oversupplied," Griffith said.
