ANGLO American Platinum expects its year headline earnings to fall between 40 and 55 percent, a bigger drop than the 20 percent it flagged to the market in December, as it continues to count the costs of a five-month strike. Headline earnings per share for 2014 are expected to be between 250c and 335c, the world’s largest platinum producer said on Friday. Amplats lost 532 000 ounces as a result of the strike by the Association of Mineworkers and Construction Union, ending in June last year.
The statement indicates the costs of the strike were higher than anticipated. Amplats shares fell 3.9 percent on Friday. – Reuters