Platinum miner Implats says to slash 13,000 jobs

Impala Platinum will slash 13,000 jobs over the next two years, it said on Thursday, as the local platinum industry grapples 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 - South African platinum miner Impala Platinum will slash 13,000 jobs over the next two years, it said on Thursday, as the local platinum industry grapples with rising costs and weak prices for the precious metal.

"This strategic orientation has been informed by a significant decline in the US$ platinum price and sustained high mining cost inflation," the company said in a statement.