Angloplat H1 headline EPS up 47 pct, cuts FY output

(Reuters) - South Africa's Anglo Platinum posted a 47 percent jump in interim headline earnings per share on Monday, at the top end of its own forecast, and cut its output estimate for the year.

Angloplat, the world's biggest platinum producer, said headline EPS for the six months to end June increased to 29.43 rand from 22.02 rand in the same period last year, mainly due to strong metals prices.


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Miners boost S.Africa stocks; outlook hits Angloplat

(Reuters) - South African shares muscled to a record high on Thursday as a stronger gold price and Rio Tinto's bid for Alcan powered mining stocks but Anglo Platinum sank on a disappointing trading update.

The Johannesburg Top-40 index of blue-chip stocks rose 0.54 percent to 27,028.86 points, a historic closing peak, while the All-share index gained 0.49 percent to 29,789.95 points, also a record.


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Platinum Drops From Seven-Week High as South African Supply Concerns Fade;

(Bloomberg) -- Platinum fell from a seven-week high
in New York as supply concerns diminished in South Africa, which
produces about 80 percent of the metal. Palladium was little
changed.

Most platinum companies in South Africa started biennial
salary negotiations last month. The National Union of
Mineworkers yesterday said it would respond today to an offer by
Impala Platinum Holdings Ltd., the world's second-biggest
producer. Anglo Platinum Ltd. increased a pay offer to try to
avert a strike last month.


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Platinum Rises as Potential Strikes May Disrupt Supplies; Palladium Gains

(Bloomberg) -- Platinum rose in New York on concern
potential strikes in South Africa, a source of almost 80 percent
of the metal, may disrupt supplies. Palladium also gained.

Last week, the price of platinum had the biggest weekly gain
in two months as unions threatened to walk off the job over wage
disputes. Anglo Platinum Ltd. raised a pay offer last month to
try to avert a strike and employees at Impala Platinum Holdings
Ltd. turned down a proposed wage increase on June 27. The two
companies are the world's biggest platinum producers.


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Platinum Drops in Asia Trade Amid Speculation Price Gains May be Overdone

(Bloomberg) -- Platinum futures fell in Tokyo for a
first day in five as some traders said more news, including any
developments in labor talks in South Africa, would be needed to
push the metal higher.

South Africa's National Union of Mineworkers rejected an
initial wage offer from Anglo Platinum Ltd., analyst James Steel
of HSBC Securities (USA) Inc. said in a report dated May 31,
raising concern about possible supply disruptions. The news
helped push platinum futures up by 2 percent, or 100 yen, the
Tokyo Commodity Exchange limit on June 1.


Read more at Bloomberg Commodities News