Platinum miner shares down

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IOL BR mining PIC001 Reuters.

Shares of the world's biggest platinum producers, Anglo American Platinum and Impala Platinum, fall as Amplats warns on profits and price of the precious metal falls.

Implats trades 2.77 percent lower at 131.49 rand, the biggest loser on the Top-40 index, while Amplats extended losses to be 2 percent lower after it says it expects first-half earnings to fall more than 20 percent on depressed sales and prices.

Spot platinum was 0.75 percent lower at $1,434.75 an ounce, hit by Asian data. The data shows a factory slump in Asia's two biggest exporters China and Japan deepened in June as crumbling orders from abroad dragged activity to seven-month lows, heightening worries that the health of the global economy is deteriorating. - Reuters


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