Platinum Group Metals Production Rises 4.8 Percent

Business Insider reported production of platinum group metals rose 4.8% in June in South Africa.

As quoted in the market news:

Platinum’s price increase, the first increase in platinum production in a year may have been due to the nation’s biggest platinum mine ramping up production after a strike.

Impala Platinum Holdings Ltd., whose main Rustenburg mine was halted for six weeks at the start of the year by a battle for control between labor unions, said the operation averaged about 90 percent of capacity in June according to Bloomberg. The strike at the operation cost Impala, the second-biggest producer of the metal, more than 120,000 ounces of output, it said May 29.

Click here to read the full Business Insider report.