Impala Platinum warns of further job losses if restructuring plan fails

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

FILE: Mineworkers leave Shaft 14 of the Impala Platinum mine in Phokeng. Picture: AFP

JOHANNESBURG - Impala Platinum says if its current restructuring plan isn’t successful more jobs could be on the line.

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

The company has announced that it’s issued a restructuring order for 1,500 jobs at this stage.

It follows a strategic review that found it will have to scale back on its underground operations from 11 to six shafts over the next two years.

Impala spokesperson Johan Theron says: “We did issue a restructuring notice about a year ago, and over the last year we have reduced our employment numbers by 2,000 people. In that process, we managed to not forcefully retrench anybody, so this new notice is for a further 1,500 people on a forward-looking basis.”