Bloomberg News

Impala Strike Impact Could Last Beyond Two Weeks, Goldman Says

January 26, 2012

Jan. 26 (Bloomberg) -- The impact of a strike by Impala Platinum Holdings Ltd. workers could “easily” extend beyond the two weeks estimated by the company’s managers, Goldman Sachs Group Inc. said in a report.

“When looking at the Lonmin K3 situation, the impact was closer to four full weeks of lost production as the company was unable to hire all workers back,” the Goldman analysts wrote.

The strike means about 20,000 ounces of platinum production will be lost every week, the bank estimated.

To contact the editor responsible for this story: Stuart Wallace at swallace6@bloomberg.net


Burger King's Young Buns
LIMITED-TIME OFFER SUBSCRIBE NOW

(enter your email)
(enter up to 5 email addresses, separated by commas)

Max 250 characters

 
blog comments powered by Disqus