Amplats confirms strike-related loss

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Anglo American Platinum (Amplats‚ AMS) disclosed on Friday that the company has already lost 235‚000 ounces of platinum production owing to the recent illegal strike action and the subsequent ramp-up process.

The group confirmed late Friday that operations at its Rustenburg‚ Union and Amandelbult mines had started safely and production ramp up was progressing according to plan. However‚ due to the planned ramp up process the operations had not yet reached the pre-strike production levels and the company continues to lose production.

“Production is now above 80% of steady state level. Since 16 November‚ when employees accepted the terms of the company’s offer and returned to work‚ the company has lost a further 40‚000 ounces of platinum production from own mines‚” the company said in a statement.

It confirmed that‚ as a result of the initial safety suspension and the illegal strike action‚ which ended on 15 November 2012‚ the total losses from the strike and during the on-going ramp up period were 235‚000 ounces of platinum production from own mines‚ of which 195‚000 ounces were lost as a result of the initial safety suspension and illegal strike action.

Chris Griffith‚ CEO of Anglo American Platinum‚ said: “We are pleased that our employees are back at work and that the safe start-up programme was conducted successfully and ramp-up is progressing according to plan.” - I-Net Bridge

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