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South Africa: Strike costs platinum producers nearly $400 million in revenue

February 21, 2014 - 6:00am

South Africa's platinum producers have been hit hard as a miner strike entered its fifth week, resulting in an industry revenue loss of 4.4 billion South African rand ($399 million), Miningmx reported.

Chris Griffith, chief executive of Anglo American Platinum Ltd., said "it won't be too much longer before losses are irrevocable." Terence Goodlace, chief executive of Impala Platinum Holdings Ltd., said around 10% of the company's work was "irreversibly lost."

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