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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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