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Valterra Platinum First-Half Profit Falls on Rain-Hit Output
Valterra Platinum Ltd. said first-half profit fell 91%, after flooding at a key mine cut production and the company incurred costs during its recent spinoff from Anglo American Plc. The Johannesburg-based miner slashed its interim dividend to 2 rand per share, a drop of 79% from a year earlier, according to results released on Monday. Valterra completed its separation from Anglo at the start of June when it also added a secondary listing in London. While the flooding curbed first-half output at its Amandelbult operation by 45%, Valterra still expects to meet its annual target for refined production of 3 million to ... (full story)
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