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Anglo reviewing stoppage-hit platinum business – Carroll

JOHANNESBURG - Diversified mining major Anglo American is starting your review of its Platinum business, that is wracked by government safety stoppages.

Despite its Platinum operating profit increasing to $890-million in the face of 81 safety stoppages, London analysts peppered Anglo American CEO Cynthia Carroll with questions on the turnaround plans for JSE-listed Anglo American Platinum (Amplats), which lost 109 000 oz of Platinum to nonfatal Section 54 mine stoppages. ... Read More

Posted On 02/19/2012 20:06:17 by stonecrushermachine

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Platinum industry needs $1 900/oz – Amplats

JOHANNESBURG (miningweekly.com) - A Platinum cost of more than $1 900/oz was needed to provide producers together with the incentive to invest the substantial capital instructed to maintain long-term production, Anglo American Platinum (Amplats) CEO Neville Nicolau said on Monday.

At price levels currently inside $1 600/oz range, there would be a gradual moving away from investing, which could mean a dropping off supply, Nicolau told Mining Weekly Online in a very video interview ... Read More

Posted On 02/13/2012 19:58:12 by stonecrushermachine

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