This might affect platinum prices

[TreasureHunter]

Amplats wants to cut 7,000 South African jobs:
http://www.reuters.com/article/2013/08/19/us-amplats-jobs-idUSBRE97I0MS20130819

 

[BlackSheep]

More strikes could be on the cards if they go ahead with it, it looks like they intend to start issuing dismissal notices on 1st Sept.

On a related note, I found the link below which claims they cannot easily introduce mechanised processes in Plat mines to replace manual labour, I imagine this gives the unions some leverage. Unfortunately it's a paid sub to get full article.

http://www.miningbusiness.net/content/mechanisation-still-far-south-africas-platinum-mines

While other mining sectors are adopting mechanisation, costs and geology mean that recovering platinum is still a slow, manual process. Clara Ferreira-Marques and Sherilee Lakmidas report

 

[Clawhammer]

Anglo American signals it wants to sell off Amplats. Miner's strike is draining capital from the rest of the group.

http://www.mining.com/anglo-gives-fresh-signs-of-looking-to-offload-its-platinum-mines-50997/

P.S. to add;

Sibayne Gold has shown interest in buying them up

http://www.mining.com/sibayne-may-pick-up-sa-platinum-mines-from-distressed-miners-57783/

 

[ego2spare]

Dammit! I spent all my platinum money on stupid silver again

 

[Savocado]

Good news, thank you

 

[Savocado]

Looks like they are getting closer to resolving the pay dispute.

Prices are falling.

 

[Savocado]

No deal in wage rises, Anglo plans to move to open cut mines.

http://www.bloomberg.com/news/2014-...way-from-labor-intensive-platinum-mining.html

 

[TreasureHunter]

The current tensions between Russia and the Western World could also affect platinum's price. Palladium even more!

 

[Savocado]

TO DA MOON