South Africa’s Amplats to shed mines and 14,000 jobs
JOHANNESBURG (Reuters) – Anglo American Platinum , the world’s top platinum producer, said it will mothball two South African mines, sell another and cut 14,000 jobs in moves to restore profits that may provoke a repeat of last year’s strikes when about 50 people died. In a long-awaited review announced on Tuesday that is seen as crucial to the flagging fortunes of Anglo American , which owns about 80 percent of Amplats, the platinum producer said it aimed to cut output by around a fifth or 400,000 ounces. The price of platinum rose 1. . . .
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