Just like the other companies out there, Anglo American Platinum is expecting its full-year revenue to decline by 20 percent or more. On Monday, the company reported their anticipation for their earnings fall that is seen to be due to its record five-month strike that affected the operation in South Africa.
It can be remembered that the company suffered from wages dispute with the Association of Mineworkers and Construction Union. This dispute ended June 2013 and costs the company a total of 424 thousand ounces in lost production and another 108 thousand ounces during the continuous post-strike ramp-up.
The Anglo American subsidiary, which is also said to contend with the prices of spot aluminum, said that its headline earnings for every share would decline by 20 percent from the 5.56 rand per share last year.
Anglo American Platinum said that they will put the mine and other labor-intensive shafts for sale around Rustenburg. This is because the company is starting to switch to much more mining mechanized methods.
Will the company still be able to recover next year or will it continue to have a declining revenue? That is yet to find out based on their performance for the year 2015.