Impala Platinum says could sell some of its operations

The mining company announced restructuring plans today that that could lead to thousands of jobs losses.

FILE: Impala Platinum Mine in Rustenburg. Picture: implats.co.za

JOHANNESBURG – Impala Platinum says it could sell some of the shafts that it plans to close if buyers can be found.

The mining company announced restructuring plans on Thursday that that could lead to thousands of jobs losses.

South Africa’s platinum industry is grappling with rising costs and weak prices for the precious metal.

The mining company says the industry, specifically in Rustenburg, has been under pressure for several years.

Impala platinum's Johan Theron says, unfortunately, this means jobs losses, with 1,500 on the line for now.

“Over the next two years or so, we’re looking at contracting that operation from 11 operations or underground mines to six and with that, we’ll obviously be working with our social partners to see how best that can be achieved.

“But the nature of these things are that there are always jobs that are impacted.”