JOHANNESBURG, July 23 (Reuters) – Anglo American Platinum’s
acting chief executive said on Monday the group would
be prepared to cut production to boost prices and profits.
Acting chief executive Bongani Nqwababa told a results
presentation he would not “tolerate unprofitable ounces”, a
signal the group could move to close loss-making shafts.
The world’s largest platinum producer reported an expected
78 percent drop in interim profit.on Monday cut its refined
production target for 2012 to between 2.4 and 2.5 million
platinum ounces. It said this amount would remain its output
target for the next 2 to 3 years.
(Reporting by Sherilee Lakmidas; Writing by Ed Stoddard)
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