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Platinum mine strike to cost South Africa more than $1.2 billion

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An eight-week strike by platinum mine workers has cost South Africa more than 13 billion South African rand ($1.2 billion), BDlive reported.

William Tankard, Thomson Reuters GFMS research director of precious metals, estimates that 800,000 ounces of platinum have been lost because of the strike. Mr. Tankard said "I would expect this to have an impact on the market."

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