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Asset Castle Investments Follows South Africa's Amplats Warn H1 Profit To Fall At Least 20 Percent
Asset Castle Investments Closely Follows South Africa’s Amplats Warn H1 Profit To Fall At Least 20 Percent
Platinum prices have been hurt by growth concerns in China and oversupply worries which have forced firms to abandon projects and sell mines.
Amplats, which produces around 40 percent of the world's platinum group metals, said it would make a further announcement once it had determined a likely range for its headline earnings per share.
Headline EPS, which strips out certain one-off items, is the main profit measure in South Africa.
Shares in Amplats were little changed at 379.09 rand, largely in line with the blue-chip JSE Top-40 index.
Amplats, a unit of global mining group Anglo American
Amplats, along with rivals Impala Platinum and Lonmin, is due to start wage talks with unions at the end of June, when the current deal expires.
The National Union of Mineworkers will demand pay increases of 20 percent per year for the next two years while demands from the larger Association of Mineworkers and Construction Union are not yet known.
Now that the oversupply worries and growth concerns in China the recent drop in platinum prices will surely be affected when the demands from the larger Association of Mineworkers and Construction Union are revealed stated investment analyst Jeremy Finch for Asset Castle Investments.
Asset Castle Investments is a private, leading global alternative asset manager with approximately $87 billion of assets under management ("AUM") and approximately 800 employees.
We seek to deliver attractive performance to our investor base across our investment groups and strategies, including tradable credit (long-only and alternative credit), direct lending, private equity and real estate (debt and equity). The firm is headquartered in Hong Kong.
6th Floor, Suite 5609, Cheung Kong Centre,
2 Queens Road, Central Hong Kong
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