South Africa: Platinum-group metal output tumbles due to strike

July 11, 2014

Johannesburg-S.A. (July 11)  South Africa's platinum-group metal output dropped 49% year on year in May, while total mining output plummeted 6.5% due to a five-month strike by more than 70,000 miners that ended in June, the Pretoria-based statistics office said in a report.

Manufacturing output declined 3.7%, Bloomberg reported. The strike by miners at Anglo American Platinum Ltd., Impala Platinum Holdings Ltd. and Lonmin P.L.C. cost the firms 23.9 billion South African rand ($2.2 billion) in revenue.

Source: BusinessInsurance

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