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Mining giant Anglo American reports platinum output slump of 29% in Q4

LONDON -- Mining giant Anglo American on Friday said its production of platinum dropped 29 percent in the fourth quarter of 2012 because of violent strike action at mines in South Africa.

“Equivalent refined platinum production decreased by 29 percent owing to the illegal strike action at the Rustenburg, Amandelbult and Union mines,” the company said in a statement to the London Stock Exchange.

Anglo added that platinum production had slid to 416,000 ounces in the three months to December 31 compared with 583,000 in the final quarter of 2011.

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