Anglo-American Platinum says it plans to cut thousands of jobs at its mines in South Africa after its profits plunged by 71% last year.
The Anglo-American unit says in a statement that it is embarking on a restructuring that could affect about 3 700 jobs at its South African operations as it battles to keep the lid on costs amid falling platinum-group metals prices.
The miner is also reviewing contracts with 620 service providers, says Amplats. Anglo American Platinum Limited is a global mining company, which produces platinum group metals (PGMs).
The Company is a producer of copper, nickel, platinum group metals, diamonds, through De Beers, and premium quality iron ore and steelmaking coal with crop nutrients in development.
Source: eNCA
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