Amplats jobs on the line
Amplats says it plans to overhaul a number of its mines, which could lead to up 420 jobs being lost.
JOHANNESBURG - Anglo American Platinum (Amplats) says it plans to overhaul a number of its mines, which could lead to up 420 jobs being lost.
The world's number one platinum producer is facing increased pressure with prices near six year lows.
Amplats says mostly supervisory and management positions could be affected but the process does not include its Rustenburg and union mines.
However, questions are being asked about the future of these operations as Amplats has indicated it wishes sell these mines.
But reports say the offers received so far are too low.
The latest move by Amplats to overhaul operations is seen as a way to make its mines more profitable with the consolidation of nearby concentrators.
With the platinum price around $1070, pressure is now mounting for more cost-effective mining, with mechanisation already a key factor.