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Platinum output tumbles at Anglo American
Global miner Anglo American’s platinum production sank 29 per cent over the fourth quarter, due to the strikes that crippled the company last year.
The miner said this morning that 272,590 ounces of platinum production were lost over the quarter as a result of the strikes and subsequent ramp-up of operations at the Rustenberg, Amandelbult and Union mines.
Over the year as a whole, production of equivalent refined platinum fell eight per cent to 2.219m ounces, down from 2.410 ounces in 2011.
Last week, Anglo American Platinum, which is majority owned by parent Anglo American, spelled out a major overhaul of its South African operations that involved the divestment of a mine complex and the closure of several shafts.