By ROLAND LI:
"Labor unrest weighed on the fiscal year results of Impala Platinum Holdings Ltd. (PINK: IMPUY), the world's second--largest platinum producer, and the situation remains "fairly volatile," the company said Thursday.
"In February, Impala experienced a six-week strike at its Rustenberg mine, resulting in a 21 percent reudction in platinum production to 1.45 million ounces and a revenue loss of 2.8 billion rand ($338 million). Last week, Lonmin PLC (London: LMI), the third-largest platinum producer, ceased production after 34 workers were killed at its Marikana mine.
"The euro zone crisis also hurt platinum prices and higher production costs have hurt miners. Impala's cash generation fell 40 percent during its past fiscal year. As a result, the company lowered its annual divident to 0.195 rand from 0.570 rand in the previous year. ..."