BY ALLAN SECCOMBE
ONCE the financial effects of transactions with Atlatsa Resources are stripped out of the equation, Anglo American Platinum (Amplats) shows the full scars of the five-month wage strike at its biggest mines.
Amplats, the world’s largest miner of the metal, warned of a fall of at least 20% in headline earnings for 2014 because of the strike earlier this year and lower platinum prices. Headline earnings strip out exceptional items to give a view of a company’s financials excluding one-off costs or benefits.
Amplats, which is 80% owned by diversified global miner Anglo American, said on Monday its headline earnings would be about R290m lower for the year to end-December compared with the R1.45bn it reported a year ago.
Headline earnings per share will be at least R1.10 lower than the R5.56 posted last year.
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