Striking platinum miners march near Anglo American Platinum’s mine near Rustenburg in the North West. Picture: REUTERS
Striking platinum miners march near Anglo American Platinum’s mine near Rustenburg in the North West last month. Picture: REUTERS

ANGLO American Platinum (Amplats), the world’s largest platinum producer, on Thursday reported large numbers of people returning to work — an indication, it said, that a two-month wage strike had ended.

"People have returned to work in large numbers this morning and it looks like the strike is over," Amplats spokeswoman Mpumi Sithole said.

Amplats has lost about 170,000oz of platinum production to the strike.

After repeatedly missed deadlines, the company had submitted a revised offer to a strikers’ committee and recognised unions.

On Wednesday, Amplats said it expected a drop of more than 20% in earnings for the year to the end of December because of production lost to the strike, reduced metal sales and low platinum group metal prices for the period.

"However, in view of volatility in exchange rates, metal prices and the impact of the current illegal industrial action, Anglo American Platinum cannot, with reasonable certainty, quantify the extent of the decrease in expected earnings other than that the decrease is expected to be more than 20%," it said.

Amplats said it had also experienced higher costs, increased mining inflation and low metal prices during 2012 when compared with the previous year.

It reports its results on February 4.