Northam to post interim loss after strike

[miningmx.com] – NORTHAM Platinum will post an interim loss following an 11-week strike at its Zondereinde mine, the company said earlier this week.

Share earnings excluding one-time items was set to come in at 15 cents to 25 South African cents compared to a profit of 36.3 cents a share a year earlier.

The strike, organised by the National Union of Mineworkers, cost the company R750m in lost revenue. Pay increases of as much as 9.5% were eventually agreed.

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