Anglo American says strikes hit platinum production hard

01 Feb 2016 | Admin Author

Mining giant Anglo American says production of platinum dropped 29% in the fourth quarter of 2012 because of violent strikes at mines.

In a statement to the London Stock Exchange on Friday, Anglo American said the illegal strikes in September and November resulted in a loss of platinum production of 272 590 ounces for the quarter.

Earlier this month the world's biggest producer of platinum, announced plans to axe 14,000 jobs in a dramatic restructuring of its strike-hit South African operations.

Months after being swept up in a deadly South African mining strike, Anglo's platinum subsidiary Amplats said it planned to close four shafts and sell a mine considered unsustainable.