Amplats’ interim profit hits a low note

Anglo American Platinum (Amplats) has reported a sharp decline in interim profits.

1. The company’s net profit fell 70.4% year-on-year to R7.9bn.
2. The fall in profits was attributed to a decline in metal prices and lower total PGM production.
3. Amplats has slashed its interim dividend by over 80%.
4. The company said it would focus on reducing costs and improving productivity.
5. Amplats is the world’s largest primary producer of platinum.
6. The decline in profits is a setback for the South African mining industry.
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