Amplats will not make profit at strike-hit Rustenburg mines this year


Anglo American Platinum (AGPPY, AGPPF) won't make a profit this year at its Rustenburg mines due to a 10-week strike, CEO Chris Griffith says, although it is unlikely to declare force majeure on supplies to customers.

"If we run out of metal, we will go to the market to buy it... to supply our customers," Griffith says, adding that output was running at 60%.

Mine workers walked off the job in January demanding a doubling of wages that South Africa's platinum producers say they can't afford; talks with the union resumed this week after collapsing three weeks ago.

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