Anglo American Platinum shuts mines, axes 14,000 jobs and sends platinum prices skyrocketing
Anglo American Platinum (Amplats), the platinum miner that was hit by a wave of violent strikes last year, announced Tuesday its intentions to close and sell off several of its mines in South Africa, as part of a long-awaited review of operations. With 14,000 jobs at risk, the move is likely to have major implications for South Africa’s unsettled labour relations. The plan will also impact global markets, as platinum supply will decrease significantly. Shares of rival producers, including Lonmin, rallied on the news, with platinum prices rising to three-month highs.
See http://www.mining.com/amplats-shuts-mines-axes-14000-jobs-and-sends-platinum-prices-skyrocketing-63242/?utm_source=digest-en-mining-130115&utm_medium=email&utm_campaign=digest.
Amplats on a collision course with Government, unions
Stopping short of threats to suspend some of the company’s mining rights, SA’s Mines Minister, Susan Shabangu, said she remained wary of Amplats and its parent’s intentions.
See http://www.mineweb.com/mineweb/content/en/mineweb-political-economy?oid=170196&sn=Detail.
Striking Amplats miners return to work
Anglo American Platinum miners have returned to work, ending an illegal walkout to protest the platinum mining firm’s plan to cut 14,000 jobs, a company spokeswoman said on Thursday. Workers at three of Amplats’ South African mines went on a wildcat strike from Tuesday’s overnight shift, hours after the company, a unit of London-listed Anglo American, said it would mothball two mines and sell another.
See http://www.mineweb.com/mineweb/content/en/mineweb-fast-news?oid=170504&sn=Detail.