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South African miner Amplats to close shafts and cut jobs

  • Anglo American Platinum announced on Tuesday it would end production at four mine shafts in the Rustenberg region of South Africa.

    The move is likely to result in the loss of nearly 14,000 jobs.

    Amplats cited lower demand for the precious metal and higher costs as the reason behind the decision.

    The world's biggest platinum producer added it would propose to create 14,000 jobs in order to balance the cuts.

    Last October, the company sacked 12,000 workers after a strike over wages.

    At the time, it said that the weeks of illegal strikes had cost it $80 million. The workers were reinstated three weeks later after talks with unions.

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